ORLEN invests in ultra-fast charging stations
The ORLEN VC fund has invested in EUROLOOP, a producer of ultra-fast charging stations for electric vehicles (EVs). The innovative chargers from this Polish startup are already available to motorists in seven European countries, standing out as some of the market's fastest charging solutions. These state-of-the-art stations can deliver up to 720 kW of direct current power.
The technology developed by EUROLOOP significantly cuts down charging time, improving user convenience. With the ability to deliver a 720 kW output, these stations ensure that any EV model currently on the market can charge at their peak rate. The stations use advanced silicon carbide technology, achieving an impressive 97% energy conversion efficiency from alternating current (AC) to direct current (DC). A key competitive advantage of the EUROLOOP's technology is its dynamic power sharing system (the S-Hub model) for two connected charging points. Both functionalities significantly contribute to reducing the maintenance costs of the charging stations. The integrated system, with two chargers operating as a single unit, intelligently distributes power based on real-time demand. In this way the station can concurrently charge up to eight vehicles, effectively managing both the load and charging speeds.
“As outlined in the ORLEN Group's revised strategy to 2030, our ambitious plan includes the rollout of 10,000 electric vehicle charging stations across Central Europe. This initiative poses significant challenges, from developing the necessary infrastructure and securing appropriate locations to choosing a technology provider that can meet the growing expectations of customers. We believe that the EUROLOOP founders’ focus on high efficiency, power, and flexibility of the chargers, coupled with lower operating costs, ideally matches the needs of the ORLEN Group. Ou fund finalised the transaction in December 2023, continuing its robust investment activity and demonstrating yet again its proficiency in merging cutting-edge technological investments with strategic synergy opportunities," says Marek Garniewski, President of the ORLEN VC Management Board.
EUROLOOP has been marketing its chargers in Western Europe under the brand name WILLBERT, and now, through the partnership with ORLEN VC, they will be introduced to the Polish market as well. The company also provides a proprietary system under the HAWKe brand for managing charging stations, which features an end-to-end ad-hoc payment system complete with a payment terminal. With the investment from ORLEN VC, EUROLOOP plans to use the funds to expand its sales on international markets, enhance production capacity, and increase working capital.
“EUROLOOP chargers uniquely combine the flexibility of distributed models with the ease of standalone units. The WILLBERT Amber II, featuring S-Hub technology, substantially reduces the number of devices needed, cutting capital costs and lessening environmental impact. The innovative dual-sided design with an extended range allows for the simultaneous charging of four to eight vehicles (with two S-Hub stations), which means that EUROLOOP charging stations may be used in the future as replacements for conventional fuel pumps with minimal alterations to the existing spatial layout. Partnering with a distinguished investor like ORLEN VC is a source of great satisfaction to us,” says Marek Gutt-Mostowy, CEO and Founder of EUROLOOP Sp. z o.o.
EUROLOOP is the tenth investment by ORLEN VC, which, in just two years, has risen to prominence as one of Central Europe’s largest and most active venture capital funds. Its portfolio also includes two foreign venture capital funds. In line with its objectives, ORLEN VC plans to make 5-6 investments a year, focusing on the most promising companies that offer innovative technologies ready for commercialisation and aligning with the goals of the ORLEN2030 strategy.