ABB unveils mobile charger for Formula E Season 9

ABB has unveiled the charging technology it will use for Season 9 of the ABB FIA Formula E World Championship, when the company takes on its new role within the series as official charging supplier.

The ABB Formula E Race Charger features ABB’s newest charging technology and draws on the company’s leading position in the sector. Its design adapts technology already proven in road car charging applications to suit a demanding motorsport environment. It offers the greatest reliability and consistency of performance, wherever in the world the chargers are used, from various power sources.

Frank Mühlon, CEO of ABB E-mobility said: “We’re delighted to bring our innovative charging solutions to the biggest global e-mobility stage – the ABB FIA Formula E World Championship – continuing our drive to use the series as a testbed for new, more sustainable technologies. Charging the Gen3 cars will give us valuable testing information on charging in a high-paced, competitive environment. The experience and knowledge we gain will be used to continuously improve ABB chargers for customer and consumer use.”

Jamie Reigle, CEO of Formula E, added: “Technical progress and sustainable innovation are cornerstones of the ABB FIA Formula E World Championship. Our partnership with ABB is based on a shared commitment to advance electric mobility and we are delighted ABB will deliver advanced charging systems for our race teams in Gen3. ABB’s mobile chargers set the industry standard and will serve as critical infrastructure in delivering the championship. We look forward to showcasing ABB’s leading charging products under the exacting standards of competition and demonstrating that high performance and sustainability can coexist without compromise.”

ABB is a world leader in EV charging solutions, with sales across more than 85 countries. Since entering the e-mobility market back in 2010, the company has sold more than more than 40,000 DC fast chargers and 800,000 AC chargers, including those sold through Chargedot.

Source: ABB, Nov 15, 2022
www.abb.com

ABB E-mobility raises approx. CHF200 million in a pre-IPO private placement to support its growth journey

ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, today announced that it has signed a pre-IPO private placement of approximately CHF200 million for newly issued shares, led by new minority investors. The transaction will close during the fourth quarter 2022. ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software.

The private placement includes participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland. moyreal holding ag (“moyreal”), a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG, and ABB E-mobility Chairman, Michael Halbherr, are also participating in the private placement. Interogo Holding and moyreal believe that ABB E-mobility will play an important role in the transformation towards a more sustainable society. ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 92 percent, providing continued access to funding and supporting its future growth journey.

ABB CEO Björn Rosengren said:

“We remain committed to our strategy to separately list our E-mobility business subject to constructive market conditions. Meanwhile, having Interogo Holding, moyreal and Michael Halbherr as new co-shareholders in ABB E-mobility is a recognition of the company’s leading customer offering and market position. The private placement underpins our joint commitment to ensure ABB E-mobility’s fast growth in order to remain best positioned to lead the sector in EV charging solutions.”

Board of Directors fully appointed

Following the appointment of Chairman Michael Halbherr, as well as three representatives from ABB, namely Morten Wierod (President of Electrification business area), Carolina Granat (Chief Human Resources Officer), and Andreas Wenzel (Head of Strategy and M&A), three additional independent Board members for ABB E-mobility have been named: Håkan Samuelsson, Annette Köhler and Peter Molengraaf. In addition, Richard Silén, Managing Director of IH Long-Term Equity Advisors AB, has been appointed to the Board.

The Board of Directors, covering expertise across the fields of automotive, energy, finance and digitalization, has been established to govern the division in the spirit of an agile and fast-moving independent company.

ABB E-mobility is a global market leader in building a zero-emission future, with smart, reliable and emission-free EV charging solutions. Since the beginning of the year, the company has significantly scaled up its business, also through a number of acquisitions and investments, including In-Charge, Chargelab and Numocity, as well as the opening of a state-of-the art production facility in Italy and the US footprint expansion.

Lilja, Morgan Stanley, and UBS acted as financial advisors and Lenz & Stähelin acted as external legal advisors to ABB on the private placement.

SOURCE: ABB Nov 21, 2022