Barcelona, September 8th 2020. Wallbox, the leading energy management company that manufactures smart charging solutions for electric and plug-in hybrid vehicles, has today announced the acquisition of the majority of the share capital of Electromaps.
Electromaps is the leading digital platform for accessing free and paid-for electric charging points in southern Europe. The app provides its 100,000 users access and payment directly from their mobile phone, unifying the entire charging infrastructure and improving the electric vehicle driving experience.
Through this acquisition, Wallbox takes its first step into the public electric charging space and continues to advance its purpose of facilitating the adoption and use of electric cars today while creating more sustainable uses of energy in the future. In line with the company’s strategy, Wallbox is currently entering the US market and will soon distribute chargers there. The acquisition of Electromaps will complement the service offering in this market.
"This is a strategically significant acquisition. By adding public charging access to our portfolio, we are making rapid progress towards creating a complete ecosystem for electric car charging in our current markets. Beyond having southern Europe's leading platform in public charging, Electromaps and its team bring years of expertise in this market segment. Their vision is fully aligned with Wallbox and our mission. Our goal is to continue investing in the technological development of the platform and take it into more markets, thus complementing our existing residential and semi-public charging solutions," said Enric Asunción, Chief Executive Officer of Wallbox.
“Teaming up with Wallbox will allow us to maintain our leadership position in southern Europe and expand to more markets, benefiting both private users and recharging point operators, which they will have a more powerful and complete platform around the world,” said Xavier Cañadell, CEO and co-founder of Electromaps.
The electromobility sector has entered a phase of exponential growth and Electromaps will drive this growth by investing more in technological development to anticipate needs and deliver improvements for the benefit of users.
Founded in 2009, Electromaps has been a pioneer in this market segment. Its three partners, Xavier Cañadell, Jordi Rodríguez and Rafael de Mestre have combined their vision with valuable and constant user interaction on the platform. Today, they have 120,000 recharging points globally and have passed the 100,000 registered users mark. In the past decade they have managed more than one million KwH in recharges.
“These figures show that we have become both an essential travel companion for EV users, and an ally of charging point operators, as is the case of the FEDA, a government company that manages all the public charging points in Andorra through our platform,” said Jordi Rodríguez, CTO and co-founder of Electromaps.
At the beginning of this year, Wallbox completed the second tranche of its series A investment and secured €23 million to expand globally, specifically in China and America. Walbox will also make strategic investments, like Electromaps, to expand its portfolio of services. Wallbox's investors include Iberdrola, Seaya Ventures and Endeavor Catalyst, among others.
This new acquisition allows Wallbox to take a step forward in promoting and facilitating the use of electric or plug-in hybrid vehicles and opens the door for consumers to take an active role not only in recharging their vehicle, but also in managing energy. It also provides consumers the information they need to recharge with autonomy.