Paris, January 17, 2024. RIVE Private Investment (“RIVE”), an independent European investment company, participated in Electra’s €304 million fundraising, entirely in capital, to boost the transition to electric vehicles by developing a cutting-edge charging infrastructure. The electrification of the transport sector is crucial to achieve carbon neutrality by 2050; decarbonizing transport and energy production is a key axis of RIVE’s investment strategy.
This €304 million fundraising, the largest in France and the second in Europe in the charging sector, was led by PGGM, a Dutch pension fund manager and one of the largest asset managers in Europe, via “PGGM Infrastructure Funds”. On this occasion, historical investors: Eurazeo, RIVE Private Investment, SNCF group via 574 Invest, and Serena renewed their confidence in Electra after participating in previous fundraisings.
Bpifrance also participates in the round through its Large Venture fund. This participation reflects Bpifrance’s commitment, as a climate bank, to support a French player like Electra (laureate of the French Tech Next 40 and the France 2030 call for projects), able to become a champion of sustainable mobility in Europe.
A fundraising aligned with RIVE’s strategy
This reinvestment allows RIVE to renew its support for Electra in the massive deployment of fast, reliable, and easy-to-use charging stations.
Electra’s success story and its scale-up since RIVE’s capital entry in July 2022 confirm the relevance of the fund’s investment strategy. It is based on building integrated players capable of developing, constructing, owning, and operating assets, enabling the emergence of future leaders in the energy transition. RIVE invests in all segments of the energy transition, particularly in renewable electricity generation (solar, wind, etc.), thermal energy generation and distribution (biomass, CSR, etc.), green gas generation, electric mobility, and energy storage.
Trust from leading partners
Electra moreover benefits from the financial support of leading public and private investors such as EIP in Switzerland, RATP Capital Innovation, Caisse des Dépôts et Consignations/ Banque des Territoires, Ademe Investissement, Eiffel Investment Group, RGreen Invest, Frst, Allianz, Groupe Chopard and Altarea in France.
The company has also formed numerous strategic partnerships with recognized players, including Indigo, VINCI Autoroutes, Altarea, AccorInvest, Louvre Hôtels Groupe, the Delhaize group, Toulouse Blagnac Airport, InVivo, Groupe Chopard, Stellantis, G7, Bolt, Europcar, Sixt, Honda, MG, and Hertz.
Ambition to deploy 2,200 stations with 15,000 charging points, throughout Europe by 2030
The European electric vehicle fleet is set to grow significantly, notably due to the prohibition of new internal combustion engine car sales from 2035. It is imperative that the charging infrastructure fastly expands to accompany this growth, as nearly 30 million electric vehicles are expected to be on European roads by 2030.
Pierre du Passage, Partner at RIVE Private Investment, stated:
« We are very pleased to renew our confidence in Electra’s team and to position ourselves as a leading financial player in electric mobility. This historic fundraising for the sector will accelerate electric mobility in Europe and make Electra a market leader. We are convinced that Electra’s customer-focused approach, technical expertise, and the rapid execution of its teams will promote the massive adoption of electric vehicles in Europe. »
Aurélien de Meaux, co-founder and CEO of Electra, commented:
« This fundraising will allow Electra to become one of the leaders in fast charging in Europe. The previous round led by reference French investors, including RIVE, facilitated the deployment of our installations, accelerated internationalization, and thus allowed us to reach a critical size. The support from PGGM, a leading and long-term European investor, and the renewed trust of historical investors like Eurazeo, will enable us to strengthen our network and increase investments to continue expanding our coverage. The transition to electric mobility is a key aspect of the energy transition, with the transportation sector being the largest CO2 emitter in France. We are creating a network that is very easy to use, making the transition to electric vehicles desirable and not a constraint. »
About RIVE Private Investment
RIVE Private Investment is an independent European investment company, specialized in transport assets and infrastructures dedicated to the energy transition. RIVE addresses the small and mid-market, combining financial and sectoral expertise. Founded in 2013 and based in Paris, Luxembourg, and Geneva, RIVE has financed more than 2.4 billion euros of assets through over 100 transactions in about twenty countries.
A pioneer in investment in the energy transition, the team invests across the entire energy value chain: green electricity, green thermal energy, green gas, energy efficiency, storage, and electric vehicle charging networks. RIVE’s positioning reflects a concrete commitment to fighting climate change and a desire to positively impact local communities. The Sustainable Infrastructures team has financed over 850 MW of capacity in Europe.