Nexans and G2mobility sign a strategic partnership for EV charging solutions.
The agreement is backed by a €2.7 million round of funding from Nexans and its established shareholders, Bpifrance and Innovacom.
Paris, April 11, 2016 - G2mobility, a French leader in smart charging solutions for electric vehicles (EV), has signed an industrial and commercial partnership with the Nexans Group, a global leader in cables and cabling solutions, to accelerate the deployment of EV charging infrastructure in France and around the world. The agreement is backed by a €2.7 million round of funding from Nexans and its established shareholders, Bpifrance and Innovacom.
Based on the current trend, there will be nearly three million electric vehicles on roads around the world by 2018, compared with 500,000 units in 2014, according to a forecast by market analyst Frost & Sullivan.
The market is also flourishing in France, where EV ownership tripled between 2012 and 2015 (see graph). A growing number of new models on the market should further accelerate this growth among private users. Against this backdrop, there is huge global demand for smart charging infrastructure. Nexans and G2mobility already offer comprehensive solutions to match these new mobility trends, as well as a means to overcome challenges in energy management for related infrastructure.
Growth in EV registration in France Avere-France survey, 2015
In addition to investment, the partnership takes into account industrial and commercial considerations. It combines the versatility of G2mobility—a start-up specializing in IT technology for charging stations—with the resources of Nexans—a key player in cable and cabling solutions that has commercial and logistics expertise in the global market.
The partnership provides a unique value chain that incorporates connection infrastructure, charging stations, energy management and monitoring systems to facilitate the deployment of EV charging infrastructure. As part of the deal, the G2mobility range of charging stations will be made at the Nexans site in Donchery, in France's Ardennes region, starting in June 2016.
Pierre Clasquin, CEO of G2mobility: "We are in a fast-growing sector and the e-mobility market is booming. Our future success in building on what we have already accomplished requires global reach and significant industrial resources. Working with a global leader like Nexans will allow us to accelerate this process to reach the next phase.”
Thierry Costerg, General Manager at Nexans Network Solutions N.V.: "The synergy between our respective areas of expertise—Nexans in the global cable market and G2mobility in smart charging—makes our collaboration particularly well-suited. Through this partnership, Nexans and G2mobility will aim to establish a position at the forefront of the growing market for charging stations and help to promote EV deployment around the world.”
Mathieu Rouget, Investment Director, Bpifrance: "This is a key step for G2mobility: a start-up which has, in barely four years, successfully positioned solutions that now handle more than 6,000 charging stations in the French market alone. This symbolic partnership between a small start-up and a major corporation, backed by new funding will allow G2mobility to satisfy even more customers in a booming market. The investment represents Bpifrance's commitment to support the energy and environmental transition."
Jérôme Faul, Managing Partner at Innovacom: "Synergy between start-ups and established manufacturers is vital to turn a fruitful beginning into a lasting success. With its charging stations, connection technology, energy management capabilities and cloud-based solutions to manage and operate infrastructure, G2mobility will be in a position to offer a comprehensive response to market challenges in France and around the world. The involvement of Nexans confirms our initial assessment of G2mobility's ability to make the smart charging revolution a reality."
As part of this round of funding, G2mobility has received the support of investment banking firm Philippe Hottinguer Finance (Philippe Hottinguer, Aubert Vernier) and law firm Joffe & Associés (Thomas Saltiel, Charlotte Viandaz).
As a global leader in advanced cabling and connectivity solutions, Nexans brings energy to life through an extensive range of best-in-class products and innovative services. For over 120 years, innovation has been the company’s hallmark, enabling Nexans to drive a safer, smarter and more efficient future together with its customers. Today, the Nexans Group is committed to facilitating energy transition and supporting the exponential growth of data by empowering its customers in four main business areas: Building & Territories (including utilities, smart grids, emobility), High Voltage & Projects (covering offshore wind farms, submarine interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, Oil & Gas, automation, and others). Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans became the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables drives its active involvement within several leading industry associations, including Europacable, The National Electrical Manufacturers Association (NEMA), International Cablemakers Federation (ICF) or CIGRE to mention a few. Nexans employs more than 26,000 people with industrial footprint in 34 countries and commercial activities worldwide. In 2017, the Group generated 6.4 billion euros in sales. Nexans is listed on Euronext Paris, compartment A. For more information, please consult: www.nexans.com
G2mobility develops and markets a range of standard and fast charging stations able to adapt to different user needs, local energy considerations and environmental goals. G2mobility solutions also enable off-peak charging, which provides two main benefits: a cheaper energy supply and a smaller carbon footprint.
About Innovacom — The new fund for digital entrepreneurs
Since 1988, Innovacom has invested nearly one billion euros to support hundreds of start-ups and has established a reputation as a specialist in high-tech projects. The company has been involved in close to two dozen IPOs and some 150 trade sales. It holds some of the most symbolic success stories in French innovation (including Business Objects, Gemplus, LastMinute.com, Inventel, Soitec, Aufeminin.com, Digitick, Owlient and Olea Medical). Innovacom currently manages a portfolio of €300 million through its innovation and seed funds Innovacom 5, Innovacom 6 and Technocom 2, putting it among the top 10 French players in the sector. Recent investments include backing for companies such as 21Net, Air-Lynx, CAILabs, Cozy Cloud, Exagan, Feeligreen, Intersec, I-ten, Kolibree, MicroEJ and Predicsis. Based in Paris, Aix-en-Provence, Stockholm and San Francisco, Innovacom is an independent company approved by the French market authority (AMF).
Bpifrance—a subsidiary of Caisse des Dépôts and part owned by the French government—is a trusted partner for entrepreneurs that provides support for companies ranging from initial seed capital to stock-market listing through loans, underwriting and equity. Bpifrance also delivers services to promote innovation, external growth and export in partnership with Business France and Coface. Bpifrance offers companies a series of financing solutions for each milestone in their business development, along with solutions tailored to specific regional requirements. With 42 regional branches (and 90% of decisions made on a regional level), Bpifrance offers entrepreneurs a means of boosting their economic competitiveness. Bpifrance supports a range of policies implemented by central government and local authorities to meet three key goals: • support the growth of companies; • improve competitiveness in the future; • help develop an ecosystem favorable to entrepreneurship. Bpifrance gives companies a powerful, effective point of contact on their doorstep to address their full range of needs in terms of financing, innovation and investment. For details, visit: www.bpifrance.fr – Follow us on Twitter: @bpifrance.