E.ON portfolio company Virta secures investment from JXTG Nippon Oil & Energy Corporation
20 May, 2020
Virta, a leading company of electric vehicle (EV) charging platform technologies, has secured an investment from JXTG Nippon Oil & Energy Corporation - one of Asia's leading integrated utilities.
The cooperation enables the two market leaders to accelerate their companies' growth in E-Mobility sector and foster the global integration of transportation and energy industries. The investment also acts as a gateway for Virta´s operations in the Asian market, with Japan as a spearhead.
E.ON invested in Virta at the beginning of 2019. Since then, E.ON has supported Virta to strategically grow their business. The latest investment accelerates Virta's transition from the European market to the global market – solidifying their status as a global digital e-mobility platform.
“The foundation of Virta’s services portfolio is innovation and scalability that results in sustainable growth. Virta has tremendously helped its existing customers and partners to successfully transition into a decarbonised and digital world,” says Ivan Albino, Investment Principal at E.ON SE and Board Director of Virta Ltd. “While many startups only promise a hockey-stick revenue’s growth, Virta was able to deliver it. We are therefore very happy to see how the company continues to develop with their entrance to the Asian market.”
E.ON seeks to drive innovative E-Mobility solutions within an integrated energy network. There, the charging infrastructure is the key factor. Virta's technology brings electric vehicle charging services to a wider network. Their cloud-based platform supports a variety of payment systems and allows both commercial properties, such as petrol stations, as well as private locations to utilise EV charging.
“We are delighted Virta has attracted JXTG Nippon Oil & Energy Corporation – an outstanding investor and business partner. Our fit with Virta's long-term vision for mobility is particularly exciting,” says Mathias Wiecher, Global Head of E-Mobility at E.ON and Board Member of Virta. “We look forward to supporting the Virta team as they scale. Their technology can greatly increase the integrity of the E-Mobility business – something that is of growing strategic importance for the energy sector as it allows to integrate energy management and EV charging.”
In the last years, Virta has secured a prominent position in E-Mobility landscape. In their 2020 report of Europe's 1.000 Fastest Growing Companies, Financial Times ranked Virta as one of the fastest growing platforms for electric vehicles in Europe. Virta technology has also won several awards, including: the CHARGE Energy Branding Award for the Best Energy Product and the Innovation Technology Award from Frost & Sullivan.
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