Statkraft Seeks Growth for EV Charging Unit Mer

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by KnowESG
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Image of Jürgen Tzschoppe, Executive Vice President for New Energy Solutions and Kristoffer Thoner, CEO of Mer.

Statkraft, the biggest producer of green energy in Europe, is considering bringing in new shareholders for its wholly-owned EV charging operator, Mer. This move is aimed at bolstering the company's ambitious expansion plans.

Statkraft has enlisted the services of Carnegie and Skandinaviska Enskilda Banken as financial advisors to assist in the process of bringing in new shareholders for Mer. Despite this move, Statkraft will continue to be a dedicated majority shareholder in the company.

Established in 2009 under the name Grønn Kontakt, Mer was rebranded in 2020. The company commenced its growth journey in Norway, where it gained valuable experience as a first-mover in Europe's leading EV market.

Mer achieved a significant increase in market presence across Northern Europe through targeted acquisitions and the rapid installation of charging points over the last decade. The company now operates in five European countries, including Norway, Sweden, Germany, the UK, and Austria.

Mer not only offers a broad public charging network but also provides intelligent charging solutions for commercial fleets, housing cooperatives, and businesses. These factors make the company well-positioned for further growth across various geographies and business models as the EV market continues to expand.

“Inviting more shareholders into Mer alongside Statkraft will enable the company to accelerate the expansion of its EV charging network across Northern Europe to take an even bigger role in the global shift to carbon-free transport,” says Jürgen Tzschoppe, Executive Vice President for New Energy Solutions in Statkraft. “We will take the necessary time to consider the best possible ownership structure for Mer going forward. Taking a leading role in EV charging is a good example of how Statkraft implements its strategy to develop and scale new green energy technologies by partnering with others.”

The transition to electric mobility is a vital aspect of combating climate change. The replacement of conventional fossil fuel vehicles with electric cars is a significant contributor to the reduction of global CO2 emissions. This shift towards electric vehicles is firmly embedded in the EU Green Deal and the "Fit for 55" package.

“Powerful megatrends are driving EV adoption across the globe and by 2030, almost half of all new passenger cars are expected to be electric. This will quickly go towards 100% thereafter,” says Kristoffer Thoner, CEO of Mer. “Our mission is to make the shift to sustainable electric mobility easy and accessible for everyone by offering innovative solutions that will delight our customers with seamless EV charging experiences. With over 35,000 charging points, Mer has a strong foothold in the most attractive EV markets in Europe, and in 2021 we provided over 316 million electric-driven kilometres. With our early mover experience, unique sustainability commitment, and rapidly expanding EV charging network, Mer is positioned to play a leading role in the transportation revolution in Europe.”

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Source: Statkraft 

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