NaaS Technology to Acquire Charge Amps AB

NaaS Technology to Acquire Charge Amps AB

A Swedish EV charging solutions provider, Charge Amps has an international footprint in 13 markets.

Electric vehicle charging service company NaaS Technology Inc. announced plans to acquire Charge Amps AB, a Swedish EV charging solutions provider for approximately SEK 724 million (US$66.4 million) of 100% of the issued and outstanding shares.

The deal marks a landmark initiative of NaaS’ expanded global layout after its acquisition in June of over 89% stake in Sinopower HK, the biggest one-stop solar PV service provider in HK, the company says.

With an established international footprint in 13 markets and a 22% local market share, Charge Amps’ portfolio includes intelligent, sustainable, user-friendly, and aesthetically pleasing product offerings, NaaS says.

“We are very pleased to welcome the Charge Amps brand and team into the NaaS platform, marking an important milestone as we continue to expand into the international market,” Alex Wu, Co-founder, president and CFO of NaaS, stated. “We are very optimistic about the prospects of EV penetration in Europe and the overall charging service capacity. We are confident that we can work with the Charge Amps team to further strengthen its leading position in the EV charging space. We have also developed an integration plan that will see new products launched through the Charge Amps channels. I firmly believe this acquisition will bring value to our shareholders.”

As of March 31, 2023, NaaS says its network has connected over 575,000 chargers and 55,000 charging stations. In the first quarter of 2023, charging volume transacted through NaaS’ network reached 1,023 GWh, an increase of 112% YoY; gross transaction value transacted through NaaS’ network showed an increase of 107% YoY.

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