Ionity, a leading European electric vehicle charging network operator, has secured one of the largest green loan deals in the sector to date, raising €450 million from a consortium of nine commercial banks. The funding will help the company more than double its current network of approximately 5,000 charging points to 13,000 by the end of the decade, as part of a broader plan to expand to over 1,300 charging hubs across Europe by 2030.
The loan package includes an additional accordion facility allowing Ionity to extend its credit line by up to €150 million, building on the momentum of a €700 million equity round secured in 2021. Backing banks include ABN AMRO Bank, BNP Paribas, Crédit Agricole CIB, ING, KfW IPEX-Bank, and LandesBank Baden-Württemberg, among others.
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Ionity plans to use the capital to deploy high-performance chargers (HPC) that support 800-volt architecture and deliver up to 400kW per charging tower. The expansion will also include the integration of new 600kW Alpitronic HYC1000 chargers and strategic partnerships with retail brands to make EV charging more accessible and convenient.
“With this strategy, we’re targeting two distinct user groups,” said Ionity CEO Jeroen van Tilburg in an interview with electrive. “One is private drivers who don’t have access to home charging. With our urban sites, we give this audience the opportunity to charge their EV once a week during their shopping activities, for example.”
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He added: “The other user group includes professional drivers — such as taxi and delivery services — who can make a significant contribution to cleaner cities. So with a good location on the ring road, we can give taxi drivers the confidence to switch to EVs – where they can quickly top up for ten minutes or so between customers.”
Ionity is a key member of the Spark Alliance, which allows seamless access to charging locations via a single app, making its growing network more attractive to a wide base of EV users. The company’s shift from highway corridors to urban and peri-urban locations reflects a strategic effort to meet the evolving demands of both private and commercial electric vehicle drivers.