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innogy Acquires BTCPower to Strengthen Position in US EVC Market
Wednesday 11 July 2018

11 July 2018 - California, US-based technology provider to the electric vehicle charging (EVC) market innogy e-mobility US LLC has acquired California, US-based EVC equipment supplier BTCPower (Broadband TelCom Power, Inc.), the company said.
Terms of the transaction were not disclosed.
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 its presence in California and in the newly expanded manufacturing facility in the Philippines.
Innogy e-mobility US LLC, a wholly owned subsidiary of German energy company innogy SE with revenue of around EUR 43bn (USD 50.35bn), more than 42,000 employees and activities in 16 countries across Europe. With its three business segments Renewables, Grid and Infrastructure and Retail, innogy addresses the requirements of a modern, decarbonised, decentralised and digital energy world.
Broadband Telecom Power, Inc. is a supplier 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.
Date Published: 11/07/2018
Target: BTCPower (Broadband TelCom Power, Inc.)
Country: USA
Sector: Electronics
Type: Corporate acquisition
Status: Closed
Buyer: innogy e-mobility US LLC
Terms of the deal were not disclosed