ABB has announced the acquisition of a controlling stake in electric vehicle (EV) commercial charging infrastructure solutions company InCharge Energy. The addition of InCharge Energy strengthens ABB’s E-mobility Division in the North American market by broadening its customer base and expanding its fleet electrification software and digital services offering.
InCharge Energy offers end-to-end EV charging infrastructure solutions, from initial consultancy and recommendations on required energy upgrades to the procurement, installation, operation, and maintenance of charging systems.
The company also provides cloud-based software services for the optimization of energy management, critical for maximising fleet business performance.
ABB initially acquired a 10 percent stake through its investment in the Series A venture capital funding round in 2020, and has now increased its interest to approximately 60 percent of InCharge Energy’s issued share capital.
Founded in 2018 and based in California, InCharge Energy has around 50 employees and is active in the US and Canada.
Tarak Mehta, President of ABB’s Electrification business area, says: “As a world leader in sustainable transport electrification – from charging solutions for cars, buses and trucks to rail infrastructure and on-shore marine electrification – we expect to continue to outgrow this strong market based on market-leading technology and innovation. This transaction is part of our commitment to accelerate the future of sustainable transport and strengthens the support to current and future customers and partners in the U.S.”
Cameron Funk, CEO of InCharge Energy adds: “ABB, as a pioneer of the green mobility revolution, is a natural fit for us. Most of our turnkey solutions already include ABB’s state-of-the-art charging hardware and we have partnered closely since ABB’s initial investment. One of the keys to further growth will be our combined ability to offer turnkey solutions and advanced services to fleet managers and EV drivers.”
ABB is a global technology company that employs about 105,000 employees in over 100 countries.