Indra Renewable Technologies secures 6m pounds in Series A funding led by Clean Growth Fund
The funding round was led by the Clean Growth Fund with participation from Gulf Oil International.
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 six million pounds in a Series A funding round led by the Clean Growth Fund, with participation from Gulf Oil International. The capital will support product development and international expansion as the company scales its smart charging technology. Clean Growth Fund and Gulf Oil join existing backer OVO Group as shareholders in the business.
The investment coincides with surging demand for electric vehicles across domestic and international markets. Indra intends to use the proceeds to advance its next generation of energy management products and grow its workforce significantly over the coming years.
From the founder
"Indra is all about technology and using it to support the journey to Net Zero. Thanks to the early investment by OVO Group, and now with the investment from the Clean Growth Fund and Gulf, we are in a very strong position to take full advantage of the growing EV market and the emergence of V2G solutions in the UK and globally."
Mike Schooling
Chief Technology Officer at Indra Renewable Technologies
Investor perspective
"Indra’s world-class expertise in smart charge technology is recognised across the globe. The company is extremely well-positioned to capitalise on the revolution that we are seeing in the EV and V2G arenas, and the convergence of the transport and energy supply industries."
Beverley Gower-Jones
Managing Partner, Clean Growth Fund
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Grow the team
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About the company
Indra Renewable Technologies
Indra Renewable Technologies develops smart EV chargers and bidirectional charging solutions.