LONDON, 30 June 2023: bp ventures, the investment arm of bp, has invested USD 8.15m in Service4Charger GmbH, a Berlin-based provider of EV charging infrastructure. The investment is part of Service4Charger’s USD 10.87m Series A funding round, which also included participation from Smart Energy Innovationsfonds, the corporate venture capital arm of Energie 360°.
Service4Charger provides a full range of EV charging services, including planning, installation, operation, and maintenance. The company’s team of in-house trained and digitally equipped electrical engineers, known as “Mobile Heroes,” are able to install and maintain charging stations throughout Germany, for a variety of charging scenarios. Service4Charger has grown to a team of over 85 employees and is already represented in 25 cities.
The investment from bp ventures will enable Service4Charger to expand its operations into new markets and add more local operational staff and Mobile Heroes. The company also plans to use the funding to develop new technologies and services to support the growing EV market.
The investment in Service4Charger is a further sign of bp’s commitment to the EV market. bp is one of the world’s leading integrated energy companies, and it has set a target of having more than 100,000 EV charging points worldwide by 2030. In Germany, bp’s e-mobility business operates under the Aral pulse brand, which has around 1,500 ultrafast charging points across the country.
The growth of the EV market is creating new opportunities for businesses like Service4Charger. As the number of EVs on the road increases, there will be a greater demand for charging infrastructure. Service4Charger is well-positioned to capitalize on this growth, and the investment from bp ventures will help the company to expand its reach and offer new services to its customers.
“We are excited to partner with bp ventures and Energie 360°,” said Lucas Althammer, CEO of Service4Charger. “This investment will help us to accelerate our growth and expand our reach across Europe. We are committed to providing the best possible EV charging solutions to our customers, and this funding will allow us to do just that.”
“As bp pulse rolls out EV charging, it is essential that we have the right skill sets and expertise to make charging installations an efficient process and to service our growing network of EV charge points,” said Gareth Burns, vice president of bp ventures. “The investment into Service4Charger brings bp a collaboration that can enable rapid and reliable installation and servicing of EV charge points in Germany.”