innogy acquires BTCPower

SANTA ANA, Calif. and ESSEN, Germany, July 2, 2018 /PRNewswire/ -- innogy e-mobility US LLC, a wholly owned subsidiary of innogy SE and a leading technology provider for the electric vehicle (EV) charging market, announced today the acquisition of BTCPower (Broadband TelCom Power, Inc.). The transaction will provide innogy with a full DC product portfolio for the North American market and access to increased production capabilities and know-how to ensure prompt delivery times and excellent quality for innogy's turn-key solutions.

As a result of the transaction, BTCPower will be positioned to leverage both innogy's financial strength and know how to enhance its growth and competitiveness across all EV hardware markets. BTCPower will continue to operate as an independent company, with the current, experienced management team staying in place, overseeing operations and manufacturing both at the company headquarters in Santa Ana, CA and the newly expanded manufacturing facility in Cebu, Philippines.

Martin Herrmann, Chief Operating Officer Retail at innogy SE: "By investing in BTCPower, we are expanding our engagement in the US market. The US eMobility market is currently booming, and is one of the most attractive markets for eMobility worldwide. Pioneering states like California and others are creating jobs and fostering investment by supporting strategic, long-term policies promoting emission-free vehicles. With the addition of BTCPower, innogy is well prepared for this growth both in the US and globally."

innogy has already successfully collaborated with BTCPower on multiple projects and had excellent experiences with the team and the products. Their charging stations integrated seamlessly into innogy's backend system and the BTC team proofed to be extremely knowledgeable in all aspects of US EV charging infrastructure.

"We are extremely happy to have BTCPower join the innogy family. Frank Meza, BTCPower president and CEO, and his team have done a tremendous job creating one of the leading EV hardware companies in the US," said Elke Temme, Senior Vice President eMobility at innogy SE. Simon Loeffler, Vice President International Markets e-mobility innogy SE declared: "innogy is excited to be able to support the growth efforts of BTCPower and looks forward to working together to advance the electrification of the global transportation system."

"It is an exciting time for us to become a part of the innogy team given the current developments within our industry," stated Frank Meza. "As more electrified transportation options become available, we will now be even better situated to charge them all."

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About innogy SE
innogy SE is a leading German energy company, with revenue of around €43 billion (2017), more than 42,000 employees and activities in 16 countries across Europe. With its three business segments Renewables, Grid & Infrastructure and Retail, innogy addresses the requirements of a modern, decarbonised, decentralised and digital energy world. Its activities focus on its
more than 22 million customers, and on offering them innovative and sustainable products and services which enable them to use energy more efficiently and improve their quality of life. The key markets are Germany, the United Kingdom, the Netherlands and Belgium, as well as several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland. In renewable power generation, the company is also active in other regions, e.g. Spain, Italy and the USA, with a total capacity of 3.9 gigawatts. As a leader of innovation in future-oriented fields like eMobility, we are represented in the international hot-spots of the technology industry such as Silicon Valley, Tel Aviv and Berlin. We combine the extensive expertise of our energy technicians and engineers with digital technology partners, from start-ups to major corporates.

About Broadband Telecom Power, Inc.
BTCPower is headquartered in southern California, the epicenter of EV innovation. Since its founding in 1999, BTCPower has grown to be one of the largest US-based suppliers of Electric Vehicle Charging Equipment, offering a full range of charging solutions, including home and commercial EVSE, DC Fast Chargers from 25kW - 150kW and Ultra High Powered Chargers from 150kW - 500kW. As a technology provider to its customers, BTCPower has the largest fleet of open protocol DC Fast Chargers in service in North America. The company also offers energy management and battery storage systems to support its full line of charging solutions.

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SOURCE innogy