LOS ANGELES, March 4, 2020 /PRNewswire/ -- In-Charge
Energy, an energy solutions company accelerating electrification of
the transportation industry by providing scalable, turnkey
commercial Electric Vehicle (EV) infrastructure solutions, today
announced Series A funding led by Macquarie Capital and ABB
Technology Ventures. Greg Callman,
Senior Managing Director and Global Head, Energy Technology at
Macquarie Capital, will join In-Charge Energy's Board of Directors.
The additional capital will enable the company to meet the growing
demands of new customers and partners in automobile fleet
electrification.
In-Charge tailors electric vehicle charging systems to private
and public commercial fleets, electric vehicle manufacturers,
ride-share operators, municipalities and commercial facilities
owners. Its founding team of Chief Executive Officer
Cameron Funk and Chief Operating
Officer Terry O'Day is among the
most experienced in EV charging infrastructure, with executive
experience covering ABM, NRG Energy, EVgo, innogy eMobility, and
Edison International. Mr. Funk previously led Innogy eMobility
as CEO, while Mr. O'Day previously led North American strategy for
innogy e-Mobility US, a division of Innogy SE.
In-Charge provides pioneering turnkey energy and electric
vehicle (EV) charging infrastructure solutions as a service to
customers of Ryder System, Inc., a leader in commercial fleet
management, dedicated transportation, and supply chain
solutions.
Mr. Callman's Global Energy Technology team invests in companies
and infrastructure across a range of areas, including
electrification, distributed energy and energy storage. Callman
joined Macquarie Capital from Tesla, where he served as Global
Director of Business Development and Market Entry for Tesla
Energy.
At Tesla, Callman led the development of Tesla's global
Supercharger program; the development of the fleet electrification
program for the Class 8 Truck and the market entry and growth of
Tesla's energy storage business from pilot projects to a global
portfolio across residential, commercial and utility segments,
including the first battery-backed DC charging stations.
"Making it easy for fleets to save money by transitioning to
electric vehicles requires an innovative approach to developing
charging infrastructure and fleet management. Macquarie brings
capabilities across infrastructure, EVs, energy storage, software
and energy trading to support fleets in this transition, and we are
pleased to be working with the team at In-Charge," said Mr.
Callman. "In-Charge has the experience and ability to ensure fleets
have what they need to introduce electric vehicles without
unnecessary complexity and to expand their electric fleets as
quickly as needed."
Investing in In-Charge was a natural fit for ABB Technology
Ventures, with ABB having entered the EV-charging market back in
2010. Today the leader in digital technologies has sold more than
13,000 ABB DC fast chargers across over 80 countries.
Bob Stojanovic, ABB's Head of
Electric Vehicle Charging in North
America commented: "ABB is a global leader in e-mobility
solutions, with deep experience in EV infrastructure. ABB is
therefore well positioned to support the development of
organizations, like In-Charge, which are investing in pioneering
technology to help advance the adoption of sustainable
transportation."
About In-Charge Energy
In-Charge Energy is an energy
solutions company that is accelerating electrification of the
transportation industry by providing a comprehensive scalable
e-fleet solution. We tailor our solutions to private and public
commercial fleets, electric vehicle OEMs, ride-share operators,
municipalities and commercial/residential facilities owners.
About Macquarie Capital
Macquarie Capital combines
grounded thinking with innovative approaches to develop
transformative opportunities for our clients - our partners. Our
capabilities encompass corporate advisory and a full spectrum
of capital solutions, including capital raising services from
equity, debt and private capital markets and principal investments
from Macquarie's own balance sheet. These offerings are reinforced
through our deep sector expertise in infrastructure and energy,
real estate, aerospace, defense and government services, consumer,
gaming and leisure, financial institutions, resources, services,
telecommunications, media and technology sectors across the US with
417 transactions completed, valued at $339
billion in the year ended March 31,
2019.
About ABB Technology Ventures
ABB Technology Ventures
(ATV) is the venture capital unit of ABB (NYSE: ABB). ATV
partners with and invests in breakthrough technology companies
aligned with ABB's goal to write the future of industrial
digitalization. Since its formation in 2009, ATV has deployed more
than $200 million into startups spanning a range of
sectors including robotics, industrial IoT, AI/machine learning,
cybersecurity, electric mobility, smart buildings and distributed
energy. Learn more at www.abb.com/ventures
Media Contacts:
Terry O'Day
In-Charge Energy
+1 818 253-5086
terry.oday@inchargeus.com
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SOURCE In-Charge Energy