NEW YORK, Feb. 05, 2019 (GLOBE NEWSWIRE) -- Energy Impact Partners (EIP), the world's largest technology fund focused on the transformation of the energy industry, today announced the sale of Greenlots, a global leader in EV charging software and solutions, to Shell Global.
EIP made its original investment in Greenlots in July 2017, following an in-depth market analysis in collaboration with its strategic investor group. EIP and Greenlots later helped establish the Alliance for Transportation Electrification, bringing key industry players together to foster collaboration and open standards to advance electrification of transportation.
Greenlots proceeded to become the partner of choice for the utility industry and was selected as sole software supplier for VW’s Electrify America charging program. The acquisition is a testament to Greenlots’ success and track record delivering cutting-edge EV charging solutions to customers, some of which are the world's largest, most innovative energy, utility and technology companies.
“Utilities are playing a pivotal role in accelerating the transition to a future electric mobility system that is safer, cleaner and more efficient. Energy Impact Partners has been a key driver of this transition by helping utilities collaborate and build critical partnerships. Greenlots wouldn’t be where we are today without the resources and support of EIP and their utility partners,” said Greenlots CEO Brett Hauser, adding, “We look forward to now working with the resources, scale and reach of Shell to further accelerate this transition.”
EIP Managing Partner Hans Kobler commented: “Greenlots is a great example of how we work at EIP: collaborating with our partners to invest in the potential winners in segments that matter, and then going to work to make them successful. Greenlots is on an incredible trajectory and, in the hands of a company with the resources such as Shell, will be able to advance the important electrification of transportation even faster.”
Through its flagship utility-backed investment fund, EIP has already deployed over $300 million into advanced energy technology companies, including Advanced Microgrid Solutions, Arcadia Power, AutoGrid, BHI Energy, Cimcon Lighting, Inc., Clevest, Dragos, ecobee, Enchanted Rock, FirstFuel, Greenlots, Mosaic, Opus One Solutions, Powerphase, Sense, Sparkfund, Tendril, and Urbint and launched a Credit Fund. Another EIP portfolio company, smart home security technology firm Ring, was acquired by Amazon in March 2018.
About Greenlots
Greenlots is unlocking the possibilities of the new electric mobility future by delivering innovative software and services that empower industries across the globe to deploy EV charging infrastructure at scale. Our technology brings together the latest in EV charging and grid management software, connecting people in a safer, cleaner, and smarter way. Headquartered in Los Angeles, CA, the company’s global footprint spans across three continents with deployments in 13 countries. Visit www.greenlots.com for more information or follow us on Twitter @greenlots.
About Energy Impact Partners
Energy Impact Partners is a strategic private equity firm established in 2015 that invests in innovative technologies, services, and products transforming the energy landscape. It provides its strategic partners with critical information helping them plot a path into the future. Through close collaboration with its investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP’s utility partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc., TEPCO, PTT Public Company Limited, OGE Energy Corp., TransCanada, and Alliant Energy. For more information, visit www.energyimpactpartners.com.
Contact info:
Energy Impact Partners LP
contact@energyimpactpartners.com
(212) 899-9700
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