Virta secures strategic investment from E.ON

The raised capital will accelerate Virta’s international growth and strengthen its position on the European market, while the Germany-headquartered E.ON has acquired an undisclosed stake in the Finnish company.

Virta and E.ON recently announced a partnership to create one of Europe’s largest and densest electric vehicle (EV) charging networks, where thousands of intelligent E.ON charging stations are powered by Virta.

“Our mission is to bring electric vehicles into people’s everyday lives and to energy systems,” said Jussi Palola, CEO of Virta, in a release. “The capital investment and co-operation with E.ON, the Europe’s leading energy company, is advancing substantially our mission realisation and shift to electric mobility in Europe.”

Since it was founded in 2013, the Finnish company has become a leading provider of EV charging technologies in Europe, with over 200 EV charging networks from 19 countries operating their charging services on its platform.

Other early investors in Virta include Finnish energy utilities Lahti Energia, Vantaan Energia, Imatran Seudun Sähkö, Tammisaaren Energia, Kotka Energia and Herrfors.