Meridiam invests €23 million in Chargepoly
Infrastructure investor Meridiam has led a €23 million investment in Chargepoly. The funding will support the latter's international expansion and the rollout of depot charging solutions for electric truck and bus fleets.
The financing, provided through the Meridiam Green Impact Growth Fund (MGIGF) alongside existing shareholder Fideve Groupe, will be used to accelerate international expansion and further develop the French charging specialist’s integrated charging platform for heavy-duty electric vehicles.
The investment comes as demand for charging infrastructure for electric heavy-duty vehicles continues to grow. Chargepoly argues that conventional charging systems are often unsuitable for logistics depots because of limited space, high power requirements and demanding fleet operating schedules. Its solution is based on a modular charging architecture that dynamically allocates available power across multiple charging points, combined with the company’s software platform, Lucie.
Chargepoly says this approach reduces deployment costs, improves asset utilisation and lowers operating expenses, while helping fleet operators reduce the total cost of ownership of electric trucks. It adds that its charging infrastructure is already operating at hundreds of DC fast charging points across France, the UK and Canada. The company says these installations support the electrification of more than one million kilometres of freight transport every month.
“We are delighted to support Chargepoly in its next phase of growth. The company is addressing a critical need for infrastructure and services that enable the electrification of heavy-duty transport, combining differentiated technology, strong industrial partnerships and highly skilled teams at a time when the total cost of ownership of electric trucks is becoming increasingly competitive with conventional diesel vehicles,” said Yannick Marion of Meridiam Green Impact Growth Fund. “We look forward to working alongside Chargepoly and leveraging our expertise to help accelerate the development of this fast-growing market.”
“This investment will allow us to accelerate our international expansion and continue to offer our customers best-in-class charging solutions to electrify their fleets,” added Hadi Moussavi, President and Founder of Chargepoly. “We are delighted to partner with Meridiam as we enter this new stage of growth. We are extremely proud to have demonstrated to our new investors and shareholders our ability and expertise to carry out this mission successfully.”