Info
Info

FreeWire Technologies raises $15 million Series A funding

News
FreeWire Technologies, a company delivering flexible and future-proof power solutions for the grid edge, announced the successful closing of its $15 million Series A financing.
Info

The round was led by BP Ventures, with participation from Volvo Cars Tech Fund, Stanley Ventures, Blue Bear Capital, Oski Clean Energy Partners, Strawberry Creek Ventures, Spike Ventures, TRIREC, and others.

The financing will support the commercialisation of FreeWire's ultrafast EV charging and mobile on-site power technologies, along with expansion of the company's operations and sales teams. These solutions are designed to overcome the inefficiencies of today's grid infrastructure to meet customers' growing demand for rapid, cost-efficient power - all without the added costs of construction, hardware installation, or peak surges.

“It is important that our initial group of investors hail from such a diverse set of industries - they collectively reflect a wide range of the energy challenges we are now in a better position to tackle,” said Arcady Sosinov, CEO of FreeWire. “Their backing at this pivotal stage is rooted in a shared vision of a future with widespread transition to flexible, sustainable electrification.”

In October 2018, Volvo Cars Tech Fund announced an investment in the Bay Area-based startup to support the automaker's long-term electrification strategy. “To support wider consumer adoption of electric cars, society needs to make charging an electric car as simple as filling up your tank,” said Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund. “Our investment in FreeWire is a firm endorsement of the company's ambitions in this area.”

At the start of 2018, BP Ventures announced an investment in conjunction with the launch of a pilot program to deploy FreeWire's infrastructure-light EV fast chargers at BP retail sites in the UK.

“FreeWire was one of BP's first investments in the advanced mobility space and we remain excited by their expertise and technologies,” said David Gilmour, Vice President of BP Ventures. “Mobility continues to evolve, and BP is committed to remaining the fuel retailer of choice. We see FreeWire playing an important role in our varied offering and helping ensure we are well positioned to meet future demand.”

The closing of the Series A round follows the previous announcement of Stanley Ventures as an investor and the appointment of both Michael Mahan, Investment Manager at Stanley Ventures, and Chad Bown, Investment Principal at BP Ventures, to FreeWire's Board of Directors.

As industries traditionally dependent on fossil fuels become increasingly electrified, FreeWire will continue to create scalable power solutions while mitigating expensive installation costs and site constraints.


The Latest News, Brought To You By
FreeWire Technologies raises $15 million Series A funding
Modified on Wednesday 5th December 2018
Find all articles related to:
FreeWire Technologies raises $15 million Series A funding
TaaS Technology Magazine
Info
AIR Index Vehicle Emissions Rating System Offers First Realistic, Fully-fledged Alternative To Official Data
Kia Unveils Roadmap For Transformation, Focusing On EVs And Mobility Solutions
VivoPower Secures 100% Ownership Of Tembo E-LV B.V.
Faurecia And Immersion Partner For Haptic Automotive Technologies
Daimler Plans Separation Into Two Pure-play Companies And Majority Listing Of Daimler Truck To Accelerate Into Zero- Emissions And Software-driven Future
Plus Commits To Deploy Ouster’s Digital Lidar Sensors
How The Volkswagen ID.4 Communicates With Light
Niro EV’s Latest Accolade Reinforces The Strength Of Kia’s Electric Vehicle Lineup
Cosworth And Delta Sign Agreement For Acquisition
Alauda Unveils The World’s First Flying Electric Racing Car
Mazda First OEM To Join The EFuel Alliance
Riversimple And Siemens: The Beginning Of A Long-term Strategic Relationship
Abarth Launches World’s First Virtual Reality Test Drive Delivered To Homes
REE Automotive Opens New Engineering Center Of Excellence In The UK
Ford Raises Planned Investment In EV, AV Leadership To $29 Billion
Humax To Supply RAiDEA Mobility Service Platform In The Middle East
Kia Starts Pilot Of Last-mile Delivery Service In Singapore For Future PBV Business
Hyundai Motor Group Unveils TIGER Uncrewed Ultimate Mobility Vehicle Concept
Ouster Achieves Major Automotive Grade Milestone
Forward31 And Lufthansa Innovation Hub Launch Startup Partnership
Volta Trucks Selects Meritor To Supply The Innovative Electric Drivetrain For The Volta Zero
Targa Telematics Supports Leasys Miles In The UK
AVL Advances Development Of Hydrogen Internal Combustion Engine For CO2 Neutral Transportation
Trimble Teams With ROBORACE
Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the TaaS Magazine, the TaaS Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event