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Innogy buys EV charging expert BTCPower in the US

EV charging. Author: NCDOTcommunications.

July 3 (Renewables Now) - The US e-mobility arm of German energy company Innogy SE (ETR:IGY) has acquired Broadband TelCom Power Inc, better known as BTCPower, to grow in the electric vehicle (EV) charging market.

BTCPower is a company headquartered in Santa Ana, California that offers power conversion and charging solutions for various applications, with an emphasis on EV charging. The firm has a newly expanded manufacturing facility in Cebu, Philippines. Its acquisition will provide Innogy with a full DC product portfolio for the North American market, the buyer said.

“The US eMobility market is currently booming, and is one of the most attractive markets for eMobility worldwide,” stated Martin Herrmann, chief operating officer retail at Innogy.

The buyer noted that BTCPower’ charging stations have integrated seamlessly into Innogy’s backend system. The two companies have already had successful collaborations on multiple projects.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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