ORLEN invests in EUROLOOP’s fast charging stations

June 14, 2024

ORLEN VC, a venture capital fund, has invested in EUROLOOP, a manufacturer of ultra-fast charging stations for electric vehicles (EVs).

EUROLOOP’s innovative chargers are currently available in seven European countries, offering high-speed charging solutions. The charging stations can deliver up to 720 kW of direct current power, reporting compatibility with any EV model currently on the market.

The stations use advanced silicon carbide technology, achieving a 97% energy conversion efficiency from alternating current (AC) to direct current (DC). A unique feature of EUROLOOP’s technology is its dynamic power sharing system (the S-Hub model) for two connected charging points. This system, along with the integrated dual-charger setup, contributes to reducing the maintenance costs of the charging stations and allows for concurrent charging of up to eight vehicles.

EUROLOOP markets its chargers in Western Europe under the brand name WILLBERT. With the investment from ORLEN VC, the company plans to introduce its products to the Polish market. EUROLOOP also offers a proprietary system under the HAWKe brand for managing charging stations, complete with an end-to-end ad-hoc payment system. The funds from ORLEN VC will be used to expand sales on international markets, enhance production capacity, and increase working capital.

ORLEN VC is one of Central Europe’s largest and most active venture capital funds, with EUROLOOP being its tenth investment. The fund plans to make 5-6 investments a year, focusing on companies that offer innovative technologies ready for commercialisation.

Marek Garniewski, President of the ORLEN VC Management Board, said, “As outlined in the ORLEN Group’s revised strategy to 2030, our ambitious plan includes the rollout of 10,000 electric vehicle charging stations across Central Europe. This initiative poses significant challenges, from developing the necessary infrastructure and securing appropriate locations to choosing a technology provider that can meet the growing expectations of customers. We believe that the EUROLOOP founders’ focus on high efficiency, power, and flexibility of the chargers, coupled with lower operating costs, ideally matches the needs of the ORLEN Group. Our fund finalised the transaction in December 2023, continuing its robust investment activity and demonstrating yet again its proficiency in merging cutting-edge technological investments with strategic synergy opportunities.”

Marek Gutt-Mostowy, CEO and Founder of EUROLOOP Sp. z o.o., added, “EUROLOOP chargers uniquely combine the flexibility of distributed models with the ease of standalone units. The WILLBERT Amber II, featuring S-Hub technology, substantially reduces the number of devices needed, cutting capital costs and lessening environmental impact. The innovative dual-sided design with an extended range allows for the simultaneous charging of four to eight vehicles (with two S-Hub stations), which means that EUROLOOP charging stations may be used in the future as replacements for conventional fuel pumps with minimal alterations to the existing spatial layout. Partnering with a distinguished investor like ORLEN VC is a source of great satisfaction to us.”