AddÉnergie, a Quebec City-based company that creates smart charging solutions for electric vehicles, announced that it has received a $12.8 million investment. Caisse de dépôt et placement du Québec will invest $8.5 million, while Investissement Québec will contribute $4.3 million.
The company will use the funding to expand its network across Canada. The company supplies charging stations, software, and management services to the Electric Circuit and the VERnetwork, the two largest electric vehicle charging station networks in Canada. AddÉnergie currently operates close to 2,000 charging stations, and with the funding, hopes to add 8,000 new charging stations across Canada in the next five years.
“We are very pleased to be receiving funding from these major institutional investors; their backing confirms our leadership in the industry and provides us with the financial means to pursue our growth objectives,” said Louis Tremblay, president and CEO of AddÉnergie. “We are privileged to be making a tangible contribution to the future of transportation, not only in Québec but across the country.”
AddÉnergie’s smart charging products give owners access to usage statistics of their infrastructures and usage rules configurations for stations; the company offers products specific to areas like workplaces and car fleets, or in public areas with offerings like a curbside charger.
“To further the growth of this green energy leader, la Caisse has also worked with the company at key stages of its development through funds and its subsidiary Ivanhoé Cambridge,” said Christian Dubé, executive vice president, Québec at la Caisse. In 2012, la Caisse’s real estate subsidiary promoted the integration of AddÉnergie charging stations by installing them at the shopping centres it owned in Québec.