Large, long term investment positions GreenWay to be definitive regional leader in e-mobility
Investment comes as natural gas shortages and price volatility prove need for modern energy solutions
- GreenWay secures investment of €85m in immediate and future growth financing from international infrastructure funds Helios Energy Investments and Generation Capital
- The fundraise is joined by existing shareholders janom a.s. and Neulogy Ventures
- The capital will be used to deploy more chargers, expand the network and strengthen the technical and IT competencies of the company to further enhance user experience
- This is the largest known investment, and first by an international infrastructure fund, into electric vehicle charging in Central and Eastern Europe and enables GreenWay to continue leading the regional transition to greener transport
- The GreenWay network consists of over 488 charging stations, mostly fast and high-powered chargers, and 29 613 registered clients
- GreenWay also operates charging infrastructure for leading brands and OEMs such as IKEA, Żabka, InPost, Mercedes, Kia and many others
- A video of the announcement is available here
Bratislava, Gdynia, Tel Aviv – Today, Helios Energy Investments (Helios) and Generation Capital (GC) finalized an agreement with GreenWay Holding (GW or the Company) to invest more than €85 million of immediate and future growth financing into GW. The investment was joined by existing shareholders janom a.s. and Neulogy Ventures. This is the largest known investment into electric vehicle (EV) charging in the Central and Eastern European (CEE) region and a strong vote of confidence in the long-term growth of e-mobility in CEE and GW as the leading regional champion.
The large fundraise reflects the Company’s strong fundamentals – a leading market position, deep industry know-how, an expert, agile team, forward looking management, solid corporate structure, a total customer focus and a clear vision for transforming the mobility sector for the benefit of customers and the environment.
The investment comes at a time of very strong tailwinds behind the transition to EVs. In 2021, 1/5 of all new car sales in Europe were electric, totaling around 2 million vehicles, compared to 1.3 million in 2020. GreenWay and its new partners see huge potential in a CEE region with over 100 million inhabitants. Furthermore, the European EV charging infrastructure market is growing exponentially and consolidating rapidly.
Peter Badík, co-founder and Chairman of the Board, GreenWay Holding
“We founded GW to build a Europe that is cleaner, healthier and less dependent on fossil fuels. Building infrastructure that enables rapid EV adoption is a critical part of this vision. Being less dependent on imported fossil fuels is especially relevant as we experience natural gas shortages, energy price hikes and political turmoil, which especially concerns the CEE region.
I’m pleased that GC & Helios are joining us in this mission. This investment puts us on firm financial footing at a time when the market is maturing and beginning to consolidate. By remaining independent, we will be agile and well positioned to use the opportunities which these changes bring.
We will invest a significant portion of the funds into further development of our team and expansion of our charging network. We will invest heavily in improving our IT and technical capabilities, which is now – hand in hand with building physical infrastructure – at the center of our strategy.
When I look back at how far we’ve come, since we installed our first chargers in Slovakia and Poland, to now, I’m so proud of all that the GW team has accomplished. We also could not have done it without the EV pioneers of this region, who have been with us every electric kilometer. We have a lot further to go together, and many more people to bring along.”
Rafał Czyżewski, CEO, GreenWay Poland
“The investors’ engagement will enable us to significantly accelerate the process of deploying more public charging infrastructure. We also intend to deepen our cooperation with businesses and become a partner of first choice for organizations that intend to switch to electromobility and need comprehensive support to carry out this change effectively.”
Erez Gissin, Managing Partner, Helios Energy Investments
“Following Helios 5’s investment into the e-mobility sector 18 months ago in Israel, we are extremely happy to invest in GreenWay and grow our EV charging footprint into Europe. GreenWay has an excellent opportunity to develop as a dominant player in CEE, and its substantial experience in the sector positions it well for the future growth of electro-mobility in Europe. Helios found an entrepreneurial and experienced leadership team in GreenWay that can lead the Company in the challenges of this new and growing industry. Helios 5 is looking to grow its network in this sector and GreenWay can play a significant role in this journey.”
Roee Zass, VP Investments, Generation Capital
“The investment in GreenWay is an excellent opportunity to be exposed to a strong, high-quality company in the growing EV charging space in the CEE, along with meeting our fund target to invest in Energy Transition and high ESG standard assets. GreenWay has an exceptional market standing alongside an experienced team and is an optimal platform for Generation Capital to penetrate the electro-mobility industry while enjoying the projected accelerated growth. We are proud to collaborate with GreenWay and include it in our portfolio.”
Jan Miskovsky, CEO, janom a.s.
“We’ve been with GreenWay since the very beginning, when they were a new startup, and are proud to continue with them as they grow. The greatest satisfaction comes from the fact that we supported GW continuously through the challenging early times of electromobility, til today. The green revolution is at the center of our investment strategy and GW is the key investment in our portfolio delivering on our sustainability mission. Moreover, also thanks to GW, we have been able to develop and control a full, green energy-based value chain.
Christian Mandl, Managing Partner, Neulogy Ventures
“We are proud of the early investment we made into GreenWay and of what has been accomplished in that time under Peter Badík’s leadership. GreenWay is staying true to its mission of enabling the transition to carbon-free energy and transport. This latest financing round strengthens its #1 position in the CEE market and we look forward to continuing our support of the Company with our new co-investors.”
GreenWay was advised by Rothschild & Co (fundraise) and AKF Legal and Wozniak Legal (legal). Helios and GC were advised by KPMG (financial) and WKB (legal).
In addition to GW’s own investment into public charging, it offers a comprehensive product and service portfolio and set of solutions for location hosts – especially workplace and residential properties – which are interested in providing charging solutions to residents, tenants and guests, and require a capable and experienced partner.
First, GW is an e-Mobility Service Provider (EMP or eMSP), directly serving EV drivers by providing membership and recharging services in the GW network of charging stations. GW drivers can recharge at any GW station – or any of the more than 10 000 throughout the EU that are a part of the GW network through roaming agreements. GW offers highly competitive prices to its customers, especially through its innovative Roam like at Home program where customers can pay for roaming as little as they pay at home. With the GW mobile app, customers can find chargers, start/stop sessions and see what amenities are around them. With its 24/7 customer service hotline and chat, GW is always there to support drivers and customers in need.
Map of the GW network: https://driver.greenway.sk/#/portal/locations
Second, GreenWay is a Charge Point Operator (CPO), operating its own network of publicly accessible charging stations for EV drivers. With charging speeds from 11 – 175 kW (most are over 50 kW), the GW network is able to meet the needs of a wide variety of EV users. GW is hardware agnostic, so it tests many technologies but only deploys those which meet its rigorous standards. On several locations it deploys stationary battery storage technology to provide additional power during peak charging times. GW currently has 488 charging stations with 1400 sockets and average charger availability is 98.5%.
GW also works with location partners – including leading retailers, car dealers, commercial and residential properties, highway authorities and municipalities – to install and operate charging infrastructure on their behalf. Whether small installations or large, complex projects with many chargers and energy management, whether for limited use or to generate revenue, GW has the team and experience capable of installing and operating it.
To ensure that the EV charging ecosystem develops in an open, competitive way that will allow it to best serve its customers, GW plays an active role in the Brussels based associations ChargeUp Europe and the Platform for Electromobility. In Poland it is a member of the Polish Alternative Fuels Association and in Slovakia in the Slovak EV Association.
Overall, GW has a deep understanding and awareness of the entire EV charging industry from technology to real estate, customer expectations to public policy and native familiarity with the CEE region. It is well poised to continue leading the EV charging market in CEE.
Helios Energy Investments is a group of infrastructure funds, investing in energy transition and renewable energy projects, with over €750M of assets under management (AUM) and over 700MW of solar PV, wind, biogas, biomass, EfW, energy storage and EV charging infrastructure projects in Europe and Israel. Helios enjoys a strong group of limited partner investors and provides a gateway for leading Israeli insurance companies and pension funds into the energy sector in Europe.
With offices in London and Tel Aviv, Helios 5 is Helios’ latest fund for European ESG investments in the energy sector, with early investments in Italy, the Netherlands and Poland, and with a pipeline of investments in Europe and Israel in sectors like energy storage, EV charging, solar, wind and anaerobic digestion.
About Generation Capital
Generation Capital is the first and largest listed Energy and Infrastructure fund in Israel. The fund AUM is approximately €650mn with a focus on the following areas: renewable energy, public transportation, power generation, natural gas distribution, water, wastewater, the environment and logistics centers. Most of the assets are located in Israel and lately Generation Capital has begun investing overseas with a large-scale investment in the UK railway sector and investing in renewable energy assets in the US and the EU.
janom is a private equity company which creates and develops projects with a vision of sustainability and the development of society with an emphasis on the environment, and thus delivers effective solutions for the benefit of all mankind. janom searches for new opportunities in innovative and technological projects, which we develop with the aim of long-term value generation and environmental sustainability. Within the group of our companies, we invest in renewable energy sources, materials research, cloud technology, asset management, health care, e-mobility, electricity management and battery storage. We use our experience and knowledge to support, develop and connect our investment activities to bring new solutions to the global market.
About Neulogy Ventures
Neulogy Ventures is Slovakia’s leading venture capital fund manager, established in 2014. Investors in its funds include institutional investors and about 40 of the most successful local tech entrepreneurs. The portfolio includes 36 companies in various sectors, with a specific focus on Climate Tech. Besides GreenWay, there are further investments in innovative companies such as Voltia (electric delivery vans), SEAK (chargers integrated with lighting poles) and GA Drilling (deep geothermal energy).
For more information, contact:
Aaron Fishbone, International Communications & Policy Director
+421 911 371 827