JET Charge Secures AUD72M to Amplify EV Infrastructure in Australasia
Deal News | Dec 19, 2024 | Mirova SA
Mirova SA, a firm dedicated to sustainable investing and an affiliate of Natixis Investment Managers, has led an equity investment round amounting to AUD72 million in JET Charge, a Melbourne-based company. This substantial capital injection is orchestrated through the Mirova Energy Transition Fund 6 (MET6), which aims to support the scaling of electric vehicle (EV) infrastructure across Australasia. Joining this funding endeavor are the company's existing shareholders: the Clean Energy Finance Corporation, RACV, and Kilara Capital. The infusion of capital is targeted at advancing JET Charge's 'Charging as a Service' (CaaS) model and facilitating the development of its proprietary technologies. These technologies are crucial for the large-scale operation of EV charging infrastructure in the region, marking a significant step in transitioning from initial pilots to comprehensive infrastructure deployment.
Sectors
- Electric Vehicles
- Sustainable Investing
- Infrastructure
Geography
- Australia – JET Charge is based in Melbourne, and the EV infrastructure expansion is focused in Australasia.
- Australasia – The region involved in the transition to scalable EV infrastructure, as mentioned in the article.
Industry
- Electric Vehicles – The investment supports the expansion of EV infrastructure, a critical component of the electric vehicles industry.
- Sustainable Investing – Mirova's involvement through its energy transition fund highlights the focus on sustainability in investments.
- Infrastructure – The capital raised is aimed at developing large-scale infrastructure for EV charging in Australasia.
Financials
- AUD72M – The total equity investment raised by JET Charge to scale its EV charging infrastructure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| JET Charge | Target | Company | An Australian company focused on EV infrastructure and charging solutions. |
| Mirova SA | Investor | Company | An affiliate of Natixis Investment Managers dedicated to sustainable investing, leading the investment round. |
| Mirova Energy Transition Fund 6 (MET6) | Funding Vehicle | Company | The specific fund led by Mirova SA for this investment. |
| Clean Energy Finance Corporation | Investor | Government | An Australian government entity investing in clean energy technologies. |
| RACV | Investor | Company | Royal Automobile Club of Victoria, providing financial backing to JET Charge. |
| Kilara Capital | Investor | Company | An investment firm focusing on sustainable and impact investments. |