Coulomb Raises $15M For EV Charging Network
09/09/2010
SustainableBusiness.com News
Coulomb Technologies, a company developing electric vehicle (EV) charging station infrastructure, announced that it has secured $15 million in Series C funding.
Coulomb will use the funds to help accelerate product development of the ChargePoint® Network, enhance customer support and drive sales.
The ChargePoint Network is designed to be used by EV drivers worldwide who need to fuel their electric vehicles away from home. The network is open to all drivers of plug-in vehicles and provides authentication, management, and real-time control through multiple web-based portals for hosts, fleet managers, drivers and utilities.
In 2008, Coulomb was the first U.S. company to introduce networked charging stations for electric vehicles. Since 2009 Coulomb has shipped more than 850 stations to more than 200 customers.
In 2010 Coulomb announced strategic partnerships with Leviton, Siemens (NYSE: SI) and Aker Wade to significantly expand the ChargePoint Network. Each of the Coulomb partners will market and distribute their own brand of home and/or public electric vehicle supply equipment (EVSE) built specifically for the ChargePoint Network. Additionally, Coulomb via their Department of Energy funded ChargePoint America program is providing 4600 free home and public ChargePoint stations in nine regions of the United States.
New investors in Coulomb include Harbor Pacific Capital and LS Cable Ltd., and LS Industrial Systems Co., Ltd. They join existing investors Rho Ventures, Voyager Capital, Siemens Venture Capital GmbH, and Hartford Ventures, a strategic investment division of The Hartford Financial Services Group, Inc. (NYSE: HIG).
Coulomb raised $14 million in Series B funding in February 2010.
Website: www.coulombtech.com