Québec invests in AddEnergie to pursue EV charging growth in US market

AddEnergie, a Canadian provider of EV charging equipment, recently received an investment from the Government of Québec and institutional investor Caisse de dépôt et placement du Québec (CDPQ). The two parties also jointly invested in AddEnergie in 2016.

The new investment will help AddEnergie double production at its plant in Shawinigan, Québec and pursue growth in the US market, which it entered in 2018. The investment will also fund the development of AddEnergie’s next generation of charging stations, network management software, and smart grid software. AddEnergie currently manages over 13,000 public and private charging stations, and expects to have over 100,000 stations in service within the next three years.

“Since our initial investment, CDPQ has supported AddEnergie in its ambitious plans for growth in new markets. As the Canadian leader in its industry, AddEnergie is well positioned to carve out a leading position in the US,” said Mathieu Gauvin, Senior Vice-President, Québec at CDPQ.

“AddEnergie has enjoyed sustained growth since its beginning, and proves once again that Québec has the know-how and resources necessary to secure a desirable position in the North American market for smart charging solutions for electric vehicles,” said Pierre Fitzgibbon, Minister of Economy and Innovation for the Government of Québec.

 

Source: AddEnergie