Stockholm-based electric vehicle smart charging solutions startup Charge Amps has been acquired by NaaS Technology Inc. to accelerate the startup’s growth and expansion plans across Europe while maintaining its brand identity. The startup specializes in creating innovative and user-friendly smart charging solutions for electric vehicles, contributing to the advancement of efficient and accessible EV charging. The acquisition aims to leverage NaaS’s expertise and financial strength to enhance Charge Amps’ product offerings and market reach. Charge Amps, known for innovative EV charging solutions, will continue its operations under the same name.
Founded in 2012 in Stockholm, Sweden, Charge Amps creates innovative and user-friendly products designed for various settings, including homes, offices, and public spaces. Their solutions are aimed at making EV charging more efficient, convenient, and accessible. With a focus on advancing the transition to electric mobility, Charge Amps offers a range of products and services that contribute to the development of a smarter and greener ecosystem for EVs.
NaaS Technology Inc. (NASDAQ: NAAS) is a subsidiary of Newlinks Technology Limited, focusing on providing comprehensive charging solutions and value-added services for electric vehicle charging station operators, EV owners, charger manufacturers, and industry partners to enhance charging convenience, customer experience, and operational efficiency throughout the electric vehicle ecosystem.
Olle Tholander, CEO of Charge Amps, comments: “There is strong interest from global investors in our market currently, and in Charge Amps specifically. We have been overt about our efforts in recent years to determine the best solution for the company’s long-term strategy and growth plan. We believe that NaaS has both the expertise and financial strength to support Charge Amps’ growth journey under the same brand in Europe with an expanded product offering and the means to expedite the company’s expansion plans. With NaaS’ extended product portfolio, Charge Amps will not only be able to bring more competitive and purposeful solutions to users, but also accelerate the transition to an electrified life and open the gateway to a smarter ecosystem.”
Alex Wu, Co-founder, President and CFO of NaaS comments: “We are very pleased to welcome the Charge Amps brand and team into the NaaS platform, marking an important milestone as we continue to expand into the international market. We are most optimistic about the prospects of EV penetration in Europe and the overall charging service capacity. We are confident that we can work with the Charge Amps team to further strengthen its leading position in the EV charging space. We have also developed an integration plan that will see new products launched through the Charge Amps channels. I firmly believe this acquisition will bring value to our shareholders.”
ABG Sundal Collier acted as advisor to Charge Amps and the sellers in the transaction.
