Indra Renewable Technologies secures £20m Series B funding from Gulf Oil International to advance bidirectional EV charging
Gulf Oil International led the Series B round to support the growth of bidirectional EV charging technology.
Indra Renewable Technologies designs and manufactures smart EV chargers and pioneering bidirectional charging technology. Based in Malvern, the business focuses on creating an integrated sustainable energy ecosystem for homes and the grid.
Indra Renewable Technologies has secured over £20m in a Series B funding round led by Gulf Oil International. The fresh capital will be deployed to expand the company customer base, accelerate hardware and technology platform development, and increase revenue streams across domestic and international markets.
The investment underscores growing market confidence in bidirectional electric vehicle charging technology. Indra allows drivers to utilise stored vehicle energy to power homes or export surplus electricity back to the grid, helping balance peak energy demand.
From the founder
"Indra's core mission is to make energy smarter to help enable the road to Net Zero. This additional investment shows the depth of confidence in our ground-breaking technology as we continue to push boundaries and unlock the potential of EVs as portable energy sources for a sustainable, greener energy ecosystem."
Adrian Moores
CEO at Indra Renewable Technologies
Investor perspective
"Gulf is continuing its transformation journey and is looking forward to working closely with Indra, who continue to lead and develop the V2H/V2G technology that will play a key role in EV adoption"
Camille Nehme
VP Strategy and Transformation, Gulf Oil International
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
- 04Invest in sales and marketing
Investors
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About the company
Indra Renewable Technologies
Indra Renewable Technologies develops smart EV chargers and bidirectional charging solutions.