TSL Express Daily News

Eiffel Investment Group, asset manager with €5.5 billion assets under management, teams up with Electra, European specialist in electric vehicles fast-charging, to accelerate the construction of charging stations in France. The deal aims to support the development of more than 100 high-power (>150 kW) charging stations, i.e. over 600 additional charging points in France, for a total amount of 27 million euros.

In just a few years, Electra has become France's leading fast-charge pure player, and one of Europe's major players in the sector. The company relies on a team of 160 experts to create one of the largest fast-charging networks in Europe, accelerating the adoption of electric vehicles. Present in 8 countries, Electra is expanding rapidly, with an installed base of almost 800 charging points and a target of 14,500 by 2030.

Since its creation, Electra has differentiated itself from its competitors by positioning at the crossroads between technology and infrastructure, with an ambition that meets users' expectations: to offer a simple, fast, competitive, and reliable recharging solution. The company has invented a charging point reservation system and developed numerous services for professionals and private individuals. Electromobilists access charging via the Electra app and can reserve their own charging slot. Payment is available online via the Electra app, or directly at charging points equipped with a contactless payment terminal.

To accelerate its growth, Electra sought additional financial resources. To this end, the funds managed by Eiffel Investment Group (Eiffel Infrastructures Vertes, Allianz Transition Energétique and Maif Rendement Vert) and its co-investors, Crédit Agricole Nord-Est (via Nord Est Partenaires Transition Energétique) and Crédit Agricole du Morbihan, are providing €27 million in bridge financing for the construction of over 100 stations, representing more than 600 additional charging points. This transaction will enable Electra to finance its growth while awaiting long-term financing to be raised once its network has effectively expanded.

By avoiding more than one million tonnes of CO2 emissions* over the lifetime of the infrastructure, Eiffel Investment Group is true to its mission of investing for a sustainable world through impact investment strategies. To fully associate Electra with this impact ambition, Eiffel Investment Group and its co-investors have indexed the cost of debt to the achievement of predefined environmental and societal objectives. This includes measures such as the calculation of CO2 emissions by Electra and the implementation of a program to reduce these emissions, as well as the systematic integration of CSR criteria in the selection of its suppliers.

For Pierre-Antoine Machelon, Head of Energy Transition Infrastructure at Eiffel Investment Group, and Roman Londner, Vice President within the Infrastructure team:

"We firmly believe in the potential of electric mobility to shape a cleaner, more sustainable future, and we are proud to support Electra in this crucial mission with our bridge debt program. This instrument is particularly well suited to Electra's charge ports, enabling us to build a portfolio and a track record for optimized long-term financing. This transaction enables us, our partners Maif and Allianz France, and co-investors to play an active role in the evolution of the electric mobility landscape."

For Matthias Seewald, member of the Executive Committee of Allianz France and Chief Investment Officer of Allianz France, said: "As an insurer, investor and company, Allianz France is committed to the energy transition from a long time. Allianz France already insures certain suppliers of electric charging stations, and with the Allianz Transition Énergétique UCIT, Allianz France wanted to offer its customers the opportunity to contribute to the financing of sustainable infrastructures for long-term economic development. The fast-charging solution for electric vehicles developed by Electra and supported in particular by Eiffel Investment Group is a concrete example of sustainable innovation at the service of citizens. This is how we can collectively contribute to decarbonising the economy."

According to Carole Zacchéo, Investments Director at MAIF, "By providing funding to Electra, MAIF Rendement Vert supportsan innovative company helping to transition towards more sustainable mobility in France. This new investment is in line with our ambition to direct our members' savings towards investments that reconcile climate issues with financial returns."

For Aurélien de Meaux, Chairman of Electra: "We are proud of Eiffel Investment Group’s trust. Its involvement in our development is a vote of confidence in French know-how and in an industrial scale-up working to accelerate the transition to a more sustainable mobility. Also, we are delighted to be backed by an investor who shares our entrepreneurial and institutional DNA."

*This indicator is calculated as the difference between the CO2 that would be emitted by a combustion vehicle and by an electric vehicle in France over the distance covered by the electricity supplied by the charging points financed over their lifetime (sources: AIE, Carbone 4, Greenly).

** as of 30/06/2023, uncalled commitments included.

About Eiffel Investment Group:

Eiffel Investment Group is an asset manager with €5.5 billion under management**. Eiffel Investment Group’s investor base consists of large institutional investors (insurance companies, mutual insurers, pension funds, banks, family offices, public investors, etc.) as well as retail investors via intermediated distribution.

Backed by the Impala group founded by entrepreneur Jacques Veyrat, Eiffel Investment Group cultivates a strong industrial expertise, in particular in the field of the energy transition, but also in the life sciences, agri-food and digital sectors.

Eiffel finances companies and their assets through four main strategies: private debt, private equity, energy transition infrastructures and listed equities and credit.

Eiffel Investment Group invests for a sustainable world. Its investment strategies aim to generate not only a strong financial performance but also positive social and environmental impacts.

Eiffel Investment Group’s team counts around 100 talented professionals, in France (Paris), BeNeLux (Amsterdam), the United States of America (New York) and the UAE (Abu Dhabi).

About Electra:

Electra is a European specialist in fast charging for electric vehicles, and a member of French Tech Next40. The company deploys and operates fast-charging points with one ambition: to facilitate the adoption of electric cars thanks to a massive, fast and high-performance charging network. Electra has the trust of major groups such as Vinci Autoroutes, Stellantis, Honda, MG, G7, AccorInvest, LSGI, Altarea, Indigo, Louvre Hotels Group, Primonial REIM France, Groupe Chopard, Jardiland and Groupe Delhaize in Belgium. With 160 expert employees, Electra invests heavily in innovation and research to deliver a unique user experience: rich, intuitive, and customisable mobile interfaces. Electra is present in 8 countries and is working to develop a network of 14,500 fast charging points by 2030. The company, which has raised €175 million in capital, has the financial backing of Eurazeo, RGREEN Invest, RIVE Private Investment, Serena Capital, Groupe Chopard, Groupe SNCF (574 Invest), RATP Capital Innovation, Ademe and Caisse des Dépôts et Consignation - Banque des Territoires.

www.go-electra.com