Saturday, July 13, 2024

Ekoenergetyka Secures 741 Million Zlotys Loan from Bank Pekao for Expansion

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Polish electric vehicle charging station manufacturer, Ekoenergetyka, has finalized a loan agreement with Bank Pekao for 741 million zlotys (approximately 170 million euros). This funding will be utilized to fuel the company’s ongoing growth initiatives.

Initially, Ekoenergetyka will receive 691 million zlotys, with an additional 50 million zlotys earmarked for release subject to specific conditions. Bank Pekao will lead the financing consortium and, in collaboration with the company, will choose other members.

Ekoenergetyka’s recent commissioning of a new production line is expected to significantly enhance efficiency and product quality, resulting in a 50 charger per shift output increase. The company plans to further enhance automation by integrating industrial robots into certain production processes. These investments are part of a strategic roadmap aimed at bolstering production capacity to meet the escalating demand for chargers across Europe.

Bartosz Kubik, co-founder and CEO of Ekoenergetyka, expressed enthusiasm about the loan, stating, “This financing will provide us with the opportunity for further dynamic development both in the area of international expansion across Europe and for our ambitious investment plans.”

The loan agreement includes provisions for structuring the financing as a Sustainability Linked Loan (SLL) in the initial year, thereby linking the loan cost to the achievement of sustainability objectives.

Magdalena Zmitrowicz, Deputy CEO of Bank Pekao, emphasized the importance of electromobility and sustainable infrastructure development, stating, “Electromobility is our future, and an important factor in its dynamic development is the emergence of adequate infrastructure. We are very pleased that Bank Pekao can contribute to this development by financing a company that has a significant impact on shaping the market for electric vehicle chargers.”

Ekoenergetyka, a key player in the electric bus charging solutions market, aims to enhance its market share in electric car and truck charging. The company has recently launched new charging stations, including the Axon Easy 400kW and the Axon Side 360kW with SAT400 satellites.

Ekoenergetyka has already completed initial deliveries of these products to customers such as Ionity and Orlen Germany, with additional contracts secured for operators across Europe.

Founded in 2009 as an academic research project, Ekoenergetyka has grown substantially, now employing over 1,000 individuals. The company’s international expansion is supported by Enterprise Investors, a prominent Central European private equity fund, which acquired a minority stake in 2022.

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