Solus Power secures £22m from Petra Equity Partners to advance mobile EV charging technology.
The Dubai private equity firm has backed the UK electric vehicle charging innovator as it expands its technology into defence and off-grid markets.
Solus Power designs and manufactures portable charging technology for electric vehicles and off-grid applications. The firm has developed modular lithium ion power units aimed at challenging environments.
Solus Power has secured £22m in investment from Petra Equity Partners to accelerate the development of its portable electric vehicle charging technology. The funding pledge from the Dubai private equity and venture capital firm follows earlier backing from Marbanc International and a Memorandum of Understanding with QinetiQ.
Established in 2020, the London based company has created ruggedised, modular lithium ion power units known as Kratos. These systems are designed to deliver ultrafast charging in off-grid settings, car parks, and defence operations. The new capital will support the company as it scales its technology for global mobility markets.
From the founder
"Receiving the incredible support and pledged investment from Petra Equity Partners, which is renowned for backing cutting-edge technology innovators, is testament to our effort to radically rethink how to mobilise energy and solve the biggest challenge of electrification. Our collaboration will help accelerate the development and deployment of our charging technologies to transform mobility across the globe, including the defence sector where we believe we can support the evolving criteria of its sustainable and adaptable energy needs."
Stas Leonidou
Chief Executive Officer at Solus Power
Use of funds
- 01Continue product development
Investors
Categories
About the company
Solus Power
Solus Power develops portable electric vehicle charging solutions for off-grid and difficult environments.