Green fund makes big investment in Russian charging stations

 

Add Russia to the growing list of countries that are rolling out ambitious EV charging networks. Enerfund, a Florida-based private equity firm that focuses on advanced energy sources and EVs, announced a partnership this week with Revolta, a Russian developer of charging infrastructure and other EV-related projects.

Enerfund plans to invest up to 1.5 billion rubles (about 49 million bucks) to build the Revolta Charging Network, which will include 2,000 AC and 100 DC fast-charging stations in several Russian cities. Revolta has been conducting field tests since November 2011, and plans to begin operations in the second quarter of 2012. Customers of the public charging stations will use prepaid RFID cards.

“We have charging stations at our office,” said Revolta CEO Maxim Osorin in an interview with Russian news organization RT. “It solves the problem, I mean cars go very actively all day and they go farther than the 120 kilometers of the active range. You have no problem because the mentality is very different. With a normal gasoline-powered car, you wait until your gauge goes to zero then you go refill it. With battery power it’s very different. Once you’re parked, you just plug it in.”

Jon New, CFO of Enerfund, said, “In a very short time, the Revolta team has demonstrated real commercial potential in the development and promotion of new EV products, services, and solutions. Enerfund decided to invest in Revolta because of the Russian market’s explosive potential as well as the company’s impressive development programs, including its smart urban infrastructure solution that is very promising for both Russian and the international export markets.”

 

Image: Revolta