Funding

Wallbox funding news – Barcelona-based Wallbox Raises $45M in Funding

Aug 1, 2024 | By Startup Rise EU

Wallbox, a smart electric vehicle charging and energy management provider, raises $45Million in funding. Wallbox has secured $45 million from select current investors through the private issuance of 36,334,277 Class A ordinary shares. The anticipated closure date of the deal is August 5, 2024, subject to the satisfaction of customary closing requirements. Additional cash for the venture comes from current investors as well.

Wallbox, a smart electric vehicle charging and energy management provider, raises $45Million in funding. It has secured $45 million from select current investors through the private issuance of 36,334,277 Class A ordinary shares. The anticipated closure date of the deal is August 5, 2024, subject to the satisfaction of customary closing requirements. Additional cash for the venture comes from current investors as well.

SUMMARY

Wallbox, a smart electric vehicle charging and energy management provider, raises $45Million in funding.
Enric Asunción and Eduard Castañeda founded Wallbox, a multinational technology business, with the goal of revolutionizing energy use, in 2015.

The current funding round for it includes a $35 million (about €32.45 million) investment from Generac Power Systems, Inc., a company that designs and produces power products and other energy-related solutions.

The Wallbox-Generac alliance is strengthened by this calculated investment. In keeping with their continuing business partnership and Paolo Campinoti's recent nomination to the Wallbox board, it is Generac's second minority investment in Wallbox.

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Aaron Jagdfeld, President and CEO of Generac, says, “This additional investment and expanded relationship with Wallbox further accelerates our Powering A Smarter World enterprise strategy. Our strategic alliance provides Generac and our distribution partners deeper access to Wallbox’s best-in-class technology and will enable deeper integration of Wallbox EV chargers into our residential and C&I energy ecosystem.”

With an emphasis on the North American market, the investment strengthens Wallbox's balance sheet and speeds up the production and sales of its chargers worldwide. Through its network of more than 8,000 authorized installers and integration with Generac's energy management solutions, the relationship with Generac supports this objective.

Enric Asuncion, CEO and co-founder of Wallbox, says, “We’re excited to announce this strategic investment in Wallbox, further strengthening our balance sheet, and positioning the company for long-term capital appreciation. This investment is a testament to our shareholders’ trust in the ongoing success of the company. As we continue to expand our commercial relationship with Generac, we are glad to see their ongoing commitment to continued collaboration and growth.”

About Wallbox

Enric Asunción and Eduard Castañeda founded Wallbox, a multinational technology business, with the goal of revolutionizing energy use, in 2015. The company creates cutting-edge energy management and charging systems for electric vehicles that improve user control over usage, save prices, and advance sustainability.