Powerdot Lands €165 Million in Green Financing to Boost EV Charging Point Rollout

Powerdot, a frontrunner in Europe's EV charging landscape, has secured a substantial €165 million in green financing from a consortium of leading financial institutions, including ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. This infusion of capital will propel Powerdot's ambitious plans to expand its network of ultra-fast charging points across the continent.

This latest financing round represents a critical juncture in Powerdot's mission to revolutionize Europe's electric vehicle infrastructure and accelerate the shift toward net-zero transportation. With over €465 million in funding commitments now under its belt, Powerdot's impressive growth trajectory and sustained investor trust are becoming increasingly evident.

The involvement of multiple top-tier banks highlights their collective commitment to advancing sustainable projects and fostering the development of green infrastructure. This collaborative financial backing underscores the widespread confidence in Powerdot's strategic vision and operational excellence, further cementing its leadership in the rapidly evolving EV charging sector.

Luís Santiago Pinto, Powerdot co-founder and CEO, remarked, "This substantial financing is a testament to our financial partners' confidence in Powerdot's vision and operational capabilities. With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting a widespread transition to sustainable transportation." he adds, "Powerdot's long-term ambition and goals allow us to explore different financial tools for funding. With great excitement, we welcome ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale to our mission of accelerating sustainable mobility."

The €165 million green financing facility, complemented by an additional €60 million in uncommitted accordion funding, is poised to significantly expand Powerdot's network of EV charging points, aiming to surpass 3,100 locations by 2026. This funding will broaden the network and enhance the technology and user experience while simultaneously fostering the growth and development of Powerdot’s team. Structured in alignment with the Green Loan Principles established by the Loan Market Association, this financing represents a pivotal milestone, underscoring Powerdot’s unwavering commitment to advancing low-carbon mobility and driving innovation in the sector. With this investment, Powerdot is strategically positioned to lead the charge in creating a robust, reliable EV charging infrastructure, accelerating the adoption of electric vehicles, and contributing to a more sustainable future for everyone.

In this financing endeavor, Santander served as the sole financial advisor and green financing coordinator. McKinsey & Co. provided commercial and technical advisory services, while Clifford Chance and PLMJ served as legal advisers to Powerdot. On the lenders' side, Gibson Dunn and Morais Leitão offered legal counsel, and EY functioned as the financial and tax adviser and model auditor.