PGNiG invests 8.5 million pln in EV charger manufacturer

The PGNiG Group’s corporate venture capital fund PGNiG Ventures has acquired shares in Enelion, a provider of comprehensive solutions for electromobility. The first stage of the investment is worth PLN 2.53m, and its total amount may reach PLN 6m.

Enelion provides a range of solutions including smart electric vehicle chargers, a system for managing charger networks, tariff plans and payments, and a mobile app enabling EV drivers to remotely control charges, energy consumption, and charging costs.

As the first tranche of the investment, PGNiG Ventures is to acquire around PLN 2.5m worth of shares in Enelion. In subsequent steps, PGNiG Ventures may invest PLN 6m in the company. The maximum investment time horizon is five years.

Enelion targets business customers, including energy companies, local governments, building managers and car dealers, as well as retail customers. The company recorded an over four-fold increase in sales over the last two years. It is consolidating its position in Poland and Europe, with as much as 70% of AC chargers manufactured by Enelion sold to customers abroad. The company aims to increase production from the current 400 to more than 5,000 AC units per month in 2025 and grow exports to the US, Canada, Eastern Europe, South America, the Middle East, and Africa. The company also plans to launch DC fast chargers.

The investment in Enelion is PGNiG Ventures’ second transaction this year. In March, the fund acquired shares in ICsec, a Polish-based manufacturer of cyber security systems for industry, for PLN 4m.

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