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Nexans to Increase its Stake in G2mobility

Source: www.gulfoilandgas.com 7/25/2017, Location: Europe

By 2040, electric vehicles are expected to account for up to one-third of the world’s vehicle fleet. In the context of climate issues and the rollout of the energy transition, smart-charging is an absolute prerequisite for optimizing the use of power infrastructure and encouraging the use of renewable energy for mobility.

To address global demand for smart-charging solutions, Nexans increases its stake in the capital of G2mobility thus strengthening the strategic partnership with the start-up, first introduced in 2016.This emblematic “start-up – major group” partnership combines the agility and know-how of G2mobility with the international resources and expertise of Nexans, and illustrates the shared commitment to developing sustainable solutions for mobility of tomorrow.

“The smart-charging market tripled between 2012 and 2015 and should continue its growth in the years ahead to support the increase in the number of electrical vehicles worldwide,” explains Thierry Costerg, Director-General of Nexans Network Solutions N.V. “Through this strengthened partnership, Nexans is helping build the smart city of the future through sustainable mobility solutions.”

Industry expertise and agility to boost eco-mobility

In April 2016, Nexans formed an industrial and commercial partnership with G2mobility to develop integrated solutions for electric mobility and address the energy management challenges of EV infrastructure. Today, Nexans is pursuing its commitment to sustainable mobility by increasing its participation in the start-up’s capital through the acquisition of shares initially held by Innovacom.

Innovacom’s aim was to support the launch of G2mobility by providing its expertise for the initial project stages. Given the success of charging solutions deployed by the two companies, Innovacom is exiting G2mobility to concentrate on providing support to the launch of new projects. “We have supported G2mobility from its beginnings in 2013 to help shape its offer and speed up its commercial growth,” points out Jerome Faul, Chairman of Innovacom’s Executive Committee. “Four years later, with Nexans’ entry into the capital, we now consider that we have fully played our role in assisting innovation to become fully viable as a real-life industrial project. We now allow this project to move to the next level.”

“We have experienced ultra-rapid growth in the past three years. As the evolving electric mobility market provides us with new opportunities, we will rely on Nexans’ strong commitment combined with the historic support from Bpifrance, to continue our expansion at the same pace in the coming years,” explains Pierre Clasquin, Chairman and Chief Executive Officer of G2mobility. “This new stage in our partnership is designed to strengthen our shared position as the leader for smart charging and will also enable us to address new international markets.”

Jason Bigeard, Director of Investments of Bpifrance adds, “As a long-time shareholder, we congratulate Nexans for its commitment to G2mobility. We are confident of the ability of both stakeholders to apply their respective expertise to developing electric mobility at the global level.”

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