Block ip Trap

Koch Announces Strategic Partnership With EVBox Group, Industry Leader In EV Charging Solutions

10 Feb 2021

Koch Strategic Platforms ("KSP"), a subsidiary of Koch Investments, announced a strategic partnership with EVBox, a pioneer in the development of electric vehicle ("EV") charging station solutions. KSP is a newly formed group created to evaluate growth opportunities and investments in companies working in "new economy" areas. KSP aims to be the preferred partner beyond capital investment by leveraging the resources and capabilities of Koch Industries – not only creating new platforms for Koch but also accelerating growth for companies in which it invests. 

Founded in the Netherlands with offices across Europe and North America, EVBox recently agreed to a business combination with TPG Pace Beneficial Finance Corp. (NYSE: TPGY.U, TPGY, TPGY WS), which will result in the company being publicly listed on the NYSE and provide it with growth capital for expansion. Koch Investments is participating in that transaction as an investor in TPG Pace's fully committed Private Investment in Public Equity ("PIPE"), which will provide EVBox with additional growth capital to expand its reach globally. 

As part of the partnership, KSP will help EVBox continue to scale its operations across North America. KSP and EVBox will explore opportunities to leverage the power of Koch companies' leading market positions to accelerate the growth of EVBox in the United States and around the world. The two companies will look to collaborate on matters ranging from software and hardware technology integration, project management, operations excellence, and domestic sales and marketing.

Additionally, the companies will evaluate charging station installations at various Koch corporate locations around the world. Koch Industries is the largest privately held company in North Americawith more than $115 billion in revenue, according to Forbes, and more than 122,000 employees globally. 

"Koch is very excited to invest in and partner with EVBox as it continues to grow and build on its strong momentum," said Steve Feilmeier, President of Koch Investments. "For over a decade, EVBox has been a global leader in charging strategies and solutions, having shipped more than 200,000 charge points to customers in 70 countries. With its market-leading, flexible architecture software-enabled platform designed to meet the needs of a broad range of customer segments, EVBox is an ideal candidate for rapid expansion in the U.S." 

"As we position EVBox for global expansion, this partnership with KSP will provide us with tremendous insights and strategic growth opportunities to bring our market-leading charging solutions to the United States and beyond, while empowering KSP to help accelerate transformative energy solutions for consumers across the globe," said Kristof Vereenooghe, President and CEO of EVBox Group. "Our mutual focus on developing innovative products and services that improve lives and consume fewer resources, combined with TPG Pace's extensive track record of supporting high-growth ESG companies, will further position EVBox to accelerate the next step in its growth strategy as the world moves toward EV adoption globally."  

"The world continues to see significant change as technology and innovation impact everything we do," says David Park, President of Koch Strategic Platforms. "Our investment in EVBox demonstrates Koch's continuous commitment to evaluating specific industries for potential investment opportunities, including the energy transformation space."

The strategic relationship with EVBox represents a broader developing relationship between Koch Investments and TPG Pace. Koch Investments also participated in the recent TPG Pace transaction with Nerdy (NYSE: PACE), leading direct-to-consumer, curated gig economy platform for live online learning benefiting both learners and experts. 

EVBox Group | https://evbox.com/en/