French electric vehicle charging startup G2mobility acquired by Total
French startup and leader in smart charging solutions for electric vehicles G2mobility is acquired by Total, in a deal that sees the French startup’s existing partnership with Nexans being consolidated.
Since its creation, G2mobility’s position on the development of electro mobility is based on a “internet of energy” vision, the smart grids where all electromobility components are linked: charge points, electric vehicles, “consumactors” and of course the electricity network.
This vision has been shared by prestigious investors who have supported the company’s growth: BPIfrance, Innovacom and more recently Nexans.
Now, following the signature of an agreement with G2mobility and its longtime shareholders, including Bpifrance and Nexans, Total now fully owns the French startup.
With this deal, Total is accelerating the growth of its electric vehicle charging businesses, from designing smart charging stations to optimizing energy usage management and selling integrated services.
“Total is pursuing its expansion in new energies for mobility. Following the acquisitions of PitPoint in Europe in 2017 and of 25% of Clean Energy in the U.S. this year, which has allowed us to accelerate in natural gas fuel for vehicles, the G2mobility transaction is a pivotal step in improving our electric vehicle charging offering,” said Total President of Marketing and Services Momar Nguer in statement.
“With a market share of more than 25% of charging points for local governments and growth in revenues of over 50% last year, G2mobility brings us a new competency to provide more efficient electric charging systems for our B2B and B2C customers,” he added.
G2mobility has developed and marketed a comprehensive electric vehicle charging solution, with connected charging stations operated by a web platform that can remotely control the charge points, offer services, particularly smart energy management systems.
“Current growth in the electric vehicle industry is bringing charging solutions into a new era in terms of ambition and capacity,” said G2mobility Co-Founder and CEO Pierre Clasquin in a statement.
“Today, you have to offer integrated solutions, from electricity supply to an end-to-end charging service. In joining Total, G2mobility can enthusiastically pursue its growth and keep contributing to the energy transition,” he added.
With almost 10,000 points managed by its services platform, G2mobility supports both municipal governments and private businesses.
To help speed up the growth of infrastructure for electric vehicles, Total and Nexans have signed a partnership agreement that gives Total access to Nexans’ production capacity and industrial know-how. Nexans will be able to rely on G2mobility’s technological edge and Total’s range of service offerings.
Nexans brings energy to life through an extensive range of best-in-class products and innovative services while Bpifrance is the French national investment bank that finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances.
“The energy transition is an excellent growth opportunity and a tool for innovation, differentiation and performance for French companies. It is also a core focus of Bpifrance’s actions,” said Paul-François Fournier, Senior Executive Vice President at Bpifrance Innovation.
“We’re proud to have supported the growth of G2mobility since 2013, and to see it join a world-class company where it can accelerate its expansion and the deployment of its service offering,” he added.