In-Charge Energy, an energy solutions company accelerating electrification of the transportation industry by providing scalable, turnkey commercial electric vehicle (EV) infrastructure solutions, says its Series A funding will be led by Macquarie Capital and ABB Technology Ventures.
Greg Callman, senior managing director and global head of energy technology at Macquarie Capital, will join In-Charge Energy’s board of directors. The additional capital will enable the company to meet the growing demands of new customers and partners in automobile fleet electrification.
In-Charge tailors EV charging systems to private and public commercial fleets, EV manufacturers, ride-share operators, municipalities and commercial facilities owners. Its founding team – CEO Cameron Funk and COO Terry O’Day – is among the most experienced in EV charging infrastructure, with executive experience covering ABM, NRG Energy, EVgo, innogy eMobility and Edison International. Funk previously led Innogy eMobility as CEO, while O’Day previously led North American strategy for innogy e-Mobility U.S., a division of Innogy SE.
In-Charge provides turnkey energy and EV charging infrastructure solutions as a service to customers of Ryder System Inc.
Callman’s global energy technology team invests in companies and infrastructure across a range of areas, including electrification, distributed energy and energy storage. Callman joined Macquarie Capital from Tesla, where he served as global director of business development and market entry for Tesla Energy.
“Making it easy for fleets to save money by transitioning to EVs requires an innovative approach to developing charging infrastructure and fleet management,” says Callman.
“Macquarie brings capabilities across infrastructure, EVs, energy storage, software and energy trading to support fleets in this transition, and we are pleased to be working with the team at In-Charge. In-Charge has the experience and ability to ensure fleets have what they need to introduce EVs without unnecessary complexity and to expand their electric fleets as quickly as needed,” he adds.
Investing in In-Charge was a natural fit for ABB Technology Ventures, with ABB having entered the EV-charging market back in 2010. ABB has sold more than 13,000 ABB DC fast-chargers across over 80 countries.