FLO, a prominent North American EV charging network operator, has secured $136 million in Series E equity financing to further its expansion across the U.S. and Canada. The investment was led by Export Development Canada (EDC) and supported by other firms, including CDPQ and Investissement Quebec. The funds will be allocated towards enhancing FLO’s network infrastructure and launching new products, such as the NEVI-compliant FLO Ultra fast charger and next-generation residential chargers. Louis Tremblay, President and CEO of FLO, highlighted the importance of this financing in bolstering the company’s efforts to combat climate change. The financing partners, including EIP and MKB, underscore their long-term commitment to FLO’s growth and the EV charging sector. This significant capital injection aims to increase EV adoption by ensuring reliable and widespread charging solutions.
Electric Vehicle Charging Infrastructure, Clean Technology, Private Equity and Venture Capital,North America, Canada, United States
https://www.cdpq.com/en/news/pressreleases/flo-secures-136m-financing-continue-expansion-north-american-charging-network