Polish electromobility firm to receive funding for expansion

20 January 2022

Ekoenergetyka, a Polish technology company, is to receive an investment of €45 million towards its electromobility projects. The funds come from Enterprise Investors (RI) who manage the Polish Enterprise Fund VIII private equity fund. Ekoenergetyka’s main activity is the design and production of charging infrastructure for electrically-chargeable vehicles (EVs) used in public and commercial transport, as well as private cars.

’We strongly believe in the electromobility sector’s dynamic growth and are very impressed by Ekoenergetyka’s innovation and technological sophistication as well as by how the company is commercialising its solutions,’ said EI partner Sebastian Król, who is in charge of the deal. The company’s unique experience and flexibility as well as the high quality of its products are appreciated by the most demanding customers in Poland and abroad.

‘Ekoenergetyka’s solutions have been selected and implemented by the largest public-transport operators in Poland and Europe, as well as by the major charging and fuel-distribution networks. Thus, the company is helping shape the development of this extremely fast-growing young market. This is an advantage we plan to use to reinforce Ekoenergetyka’s leading position.’ h

The company is a leading provider of advanced high-power charging solutions and believes it has the potential to go global. Its products and services have been implemented in some of the largest European cities, including Barcelona, Berlin, Hamburg, Munich, Paris and Warsaw. Ekoenergetyka also offers a broad range of maintenance and after-sales services that include 24/7 monitoring of charging stations and remote customer support in Polish, English and German.

 ‘We decided to team up with Enterprise Investors to benefit from their experience in developing young entrepreneurial companies that are in a rapid growth phase. Ekoenergetyka is planning swift expansion, primarily in foreign markets. For this next step in our company’s development, we sought a strong financial partner that would support us with both capital and experience. Now we can focus on becoming the number one player in the market,’ said Bartosz Kubik, Ekoenergetyka’s co-founder.

‘With Enterprise Investors’ support we intend to continue growing dynamically and developing our technological, production and organizational potential even faster, to build the best solutions for the zero-emissions transport of the future. Customer satisfaction at every stage is our priority, so I am pleased we have a partner with whom we will achieve our most ambitious goals in terms of production, service and maintaining our systems at peak efficiency,’ added fellow Ekoenergetyka co-founder Maciej Wojeński.

E-mobility in Poland

Commenting on the evolution of the introduction and use of EVs in Poland, Marcin Kardas, head of editorial at Eurotax in Poland (part of Autovista Group), said: ‘In Poland manufacturers are forced to promote ecological drives and are offering more and more electric models in place of affordable combustion cars. The costs of this process are huge and are passed on to consumers in the pricing of new internal-combustion engine (ICE) cars. ICE-vehicle pricing is slowly catching up with the price level of EVs, although until recently everyone expected a reverse situation and a decline in electric prices along with the development of production.  A potential increase in the prices of metals and rare-earth elements suggest that electricity may soon begin to rise’.

Proliferation of EVs and charging stations in Poland

Source: PSPA Poland

He also noted that the country’s “My Electrician” programme may stimulate demand for EVs, especially among companies. These experiences have translated into the demand for new EVs, particularly hybrids, but consumer acceptance of them has been slow to materialise. Meanwhile, EVs are to be increasingly rolled out. In addition, they require the creation of a dedicated infrastructure and many activities related to motorisation, such as ensuring sources and favourable energy prices.

Like elsewhere, energy prices in Poland have been increasing significantly, which calls into question the main advantage of EVs, observed Kardas, which was lower operating costs than for ICE vehicles. He expects the current year to be key in whether the Polish market will accept these new e-mobility solutions.