Amsterdam-based electric vehicle (EV) charging company Pluq has raised €50 million in a credit facility from Swedish investor P Capital Partners.
Pluq is focused on expanding its destination-based charging network, providing slower, cost-effective charging solutions at locations where users spend extended time, such as hotels, offices, and hospitals.
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Strategic Investment to Scale Infrastructure
This new funding will enable Pluq to install more charging stations across Europe while helping alleviate stress on the electricity grid. The startup advocates for slower charging as a more sustainable option, reducing grid strain and offering a revenue-sharing model for property owners. The company’s Charging-as-a-Service model covers installation and maintenance costs, allowing businesses to provide EV charging solutions without upfront investments.
Driving Sustainability Efforts
Founded in 2019, the dutch company enhances sustainability efforts by partnering with Trees for All, planting a tree for every charging station installed. CEO Pieter Zijlema highlighted the company’s mission to make EV charging accessible without disrupting the grid, stating, “Faster is not always better when it comes to charging, but we aim to scale our network quickly.”
