Iberdrola is investing in Wallbox to lead innovation in sustainable mobility

Iberdrola is making strides in its strategy to promote innovative sustainable mobility to fight climate change by acquiring a stake in Wallbox.

This company, Europe’s leading electric vehicle charging solutions company, has completed a 15 M€ round of capital injections – led by Iberdrola, with other co-investors and some of Wallbox’s current partners – which will allow it to reinforce its leadership and undertake global expansion.

The operation strengthens the business partnership between both companies and, fits into Iberdrola’s Sustainable Mobility Plan, which includes rolling out 25,000 electric vehicle charging stations throughout Spain by 2021 and in the company’s other global markets.

The sustainable mobility leader

Iberdrola intends to drive and lead the transition to sustainable mobility and the electrification of transport as an effective way to combat climate change.

The company has a Sustainable Mobility Plan that entails deploying 25,000 electric vehicle charging stations in Spanish homes, companies, urban and suburban areas with public access by 2021.The plan includes installing fast, super-fast and ultra-fast charging stations at least every 100 km on the country’s main motorways and highways during 2019, making it possible to drive all the way across Spain in an electric vehicle.

Perseo, collaboration with start-ups to design the energy of the future

Innovation is a strategic variable for Iberdrola and the main tool for guaranteeing the company’s sustainability, efficiency and competitiveness.

Iberdrola has been collaborating with start-ups for over ten years through its 70 M€ Perseo Programme. Perseo helps the company to gain access to the technologies of the future and fosters the development of a dynamic, global ecosystem of technology companies and entrepreneurs that will improve the sustainability of the energy model.

Through Perseo, Iberdrola has brought more than 2,000 emerging companies into its ecosystem, developed pilot projects, over 30 of them in the last two years, and invested in 15 start-ups in areas such as energy storage, drones, robotics and artificial intelligence.

Wallbox, working towards a change in the mobility paradigm

Wallbox plans to become a global electric vehicle charging solutions supplier (smart chargers and the myWallbox platform) and is still at the forefront of the sector with the launch of a home DC charger in the second half of the year.

The initiative will be top of its class due to its features and bidirectional technology. It has already been assessed by the market and agreements have already been signed with major car manufacturers. This new technology will bring a disruptive change to electric vehicle charging systems worldwide.

 

Source: Iberdrola