Eleport, developer of a public charging network for electric cars, raises capital and continues rapid growth

  • 2022-11-09

Eleport, one of the most prominent and rapidly expanding public charging network developers across the Baltics and Poland, has raised capital in a Series A financing round from Gren, a Northern European green energy company owned by Partners Group, a leading global private markets firm acting on behalf of its clients. With the investment, Eleport intends to significantly accelerate the deployment of electric vehicle chargers in the region and start expanding into the following markets in Central and Eastern Europe.

Eleport currently operates one of the biggest charging networks in the Baltics, with plans to add thousands more public charging stations in the coming years. Eleport has developed its own phone app for convenient charging, allowing you to find the nearest charging station and monitor vehicle charging data that most charging networks don't offer.

According to Raul Potisepp, Eleport's co-founder and CEO, Eleport, which has established a strong foothold in the Baltics and Poland, is ready to expand rapidly with additional capital support. "The recent agreement by the European Union institutions to ban the sale of new combustion engine cars from 2035 shows that the transition to electric cars is inevitable in the fight against climate change. A clear signal has been sent to the car industry to make electric cars more affordable. Eleport's aim now is to support the transition to zero-emission transport with a surge in charging opportunities for electric cars," explained Potisepp.

"We are particularly pleased and honoured to have Gren as a strategic investor in this financing round. As Eleport expands into the next markets, the experience and expertise of this new investor will be a great advantage for us," added Potisepp.

According to Ilkka Niiranen, CEO of Gren, the investment in Eleport aligns with Gren's goal to provide sustainable energy solutions to its customers. "In our journey towards sustainable success, we see that it is very important to focus also on green innovation and technology transfer in transportation. Eleport is a strong and agile company with a long track record of excellence in developing electric transport. As recognized and trusted players in their field, the Eleport team is among the best placed to deliver real solutions and at the same time combat climate change," added Niiranen.

Eleport was previously invested in by Ambient Sound Investment, the investment fund of Skype's founders, and Scandium Kinnisvara. In April this year, Eleport raised a further investment and entered into a strategic partnership with Bolt in the electric car and ride-sharing sector. Eleport’s and Bolt’s common aim is to sign contracts in Estonia, Latvia, Lithuania and Poland to install 750 electric car charging points in the most frequented locations in the four countries.

About Eleport

Eleport is a technology-driven, fast-growing company developing an innovative and future-proof charging network for consumers. Eleport's mission is to make the transport sector as climate-friendly as possible.

About Gren

Gren is a Northern European green energy company with the purpose to energize the future today. The company is developing and providing energy solutions that range from sustainable district heating to renewable and industrial energy to meet the daily needs of its customers and communities, while having a positive impact on the environment. Gren is currently operating in Estonia, Finland, Latvia and Lithuania and has ambitious growth plans to expand business in Northern Europe by actively searching for new efficient solutions and growth opportunities beyond the existing businesses. Gren is owned by Partners Group, a leading global private markets firm acting on behalf of its clients.