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EV operator seeks investors as electric vehicle shift accelerates

Europe’s largest generator of renewable energy, has begun the process of looking for new investment for its electric vehicle (EV) subsidiary as it views the momentum of the switch to an all electric transport future gathering pace.

Norway’s Statkraft, has said it has started to explore the opportunity to invite new shareholders into the ownership structure of its fully-owned electric vehicle (EV) charging operator Mer, to support the company’s “ambitious growth strategy”. The company which stressed it will remain an “active and committed majority shareholder” in Mer, has revealed the hunt for new stakeholders will enable the business to deliver a rapid expansion in its current operations.

Founded in 2009 as Grønn Kontakt and rebranded as Mer in 2020, the company began its operations in Norway, building its experience in Europe’s pioneer EV market. Through a series of targeted acquisitions and rapid roll-out of chargers, Mer significantly increased its market presence across Northern Europe over the past decade. Its operations now span five European countries – Norway, Sweden, Germany, UK, and Austria. In addition to a wide public charging network, Mer offers smart charging solutions for commercial fleets, housing cooperatives and businesses, putting the company in a position for further growth across geographies and business models as the EV market growth accelerates.

“Inviting more shareholders into Mer alongside Statkraft will enable the company to accelerate the expansion of its EV charging network across Northern Europe to take an even bigger role in the global shift to carbon-free transport,” said Jürgen Tzschoppe, executive vice president for New Energy Solutions in Statkraft. “We will take the necessary time to consider the best possible ownership structure for Mer going forward. Taking a leading role in EV charging is a good example of how Statkraft implements its strategy to develop and scale new green energy technologies, by partnering with others.”

The company added electric mobility plays a crucial role in the fight against climate change. The replacement of fossil fuel cars with electric vehicles constitutes a major component of global CO2 emission reduction efforts and is firmly anchored through the EU Green Deal and the “Fit for 55” package.

“Powerful megatrends are driving EV adoption across the globe and by 2030, almost half of all new passenger cars are expected to be electric. This will quickly go towards 100% thereafter,” added Kristoffer Thoner, CEO of Mer. “Our mission is to make the shift to sustainable electric mobility easy and accessible for everyone by offering innovative solutions that will delight our customers with seamless EV charging experiences. With over 35,000 charging points Mer has a strong foothold in the most attractive EV markets in Europe, and in 2021 we provided over 316 million electric driven kilometres. Combined with our early mover experience, unique sustainability commitment and rapidly expanding EV charging network – Mer is positioned to play a leading role in the transportation revolution in Europe.”

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