Nexans reaffirms its commitment to sustainable mobility by increasing its stake in G2mobility
Nexans, a global expert in cables and cabling solutions, is increasing its stake in the share capital of the start-up specializing in smart charging solutions and systems for electric vehicles.
Paris La Défense, July 25, 2017 – By 2040, electric vehicles are expected to account for up to one-third of the world’s vehicle fleet. In the context of climate issues and the rollout of the energy transition, smart-charging is an absolute prerequisite for optimizing the use of power infrastructure and encouraging the use of renewable energy for mobility.
To address global demand for smart-charging solutions, Nexans increases its stake in the capital of G2mobility thus strengthening the strategic partnership with the start-up, first introduced in 2016. This emblematic “start-up – major group” partnership combines the agility and know-how of G2mobility with the international resources and expertise of Nexans, and illustrates the shared commitment to developing sustainable solutions for mobility of tomorrow.
“The smart-charging market tripled between 2012 and 2015 and should continue its growth in the years ahead to support the increase in the number of electrical vehicles worldwide,” explains Thierry Costerg, Director-General of Nexans Network Solutions N.V. “Through this strengthened partnership, Nexans is helping build the smart city of the future through sustainable mobility solutions.”
Industry expertise and agility to boost eco-mobility
In April 2016, Nexans formed an industrial and commercial partnership with G2mobility to develop integrated solutions for electric mobility and address the energy management challenges of EV infrastructure. Today, Nexans is pursuing its commitment to sustainable mobility by increasing its participation in the start-up’s capital through the acquisition of shares initially held by Innovacom.
Innovacom’s aim was to support the launch of G2mobility by providing its expertise for the initial project stages. Given the success of charging solutions deployed by the two companies, Innovacom is exiting G2mobility to concentrate on providing support to the launch of new projects. “We have supported G2mobility from its beginnings in 2013 to help shape its offer and speed up its commercial growth,” points out Jérôme Faul, Chairman of Innovacom’s Executive Committee. “Four years later, with Nexans’ entry into the capital, we now consider that we have fully played our role in assisting innovation to become fully viable as a real-life industrial project. We now allow this project to move to the next level.”
“We have experienced ultra-rapid growth in the past three years. As the evolving electric mobility market provides us with new opportunities, we will rely on Nexans’ strong commitment combined with the historic support from Bpifrance, to continue our expansion at the same pace in the coming years,” explains Pierre Clasquin, Chairman and Chief Executive Officer of G2mobility. “This new stage in our partnership is designed to strengthen our shared position as the leader for smart charging and will also enable us to address new international markets.”
Jason Bigeard, Director of Investments of Bpifrance adds, “As a long-time shareholder, we congratulate Nexans for its commitment to G2mobility. We are confident of the ability of both stakeholders to apply their respective expertise to developing electric mobility at the global level.”
As a global leader in advanced cabling and connectivity solutions, Nexans brings energy to life through an extensive range of best-in-class products and innovative services. For over 120 years, innovation has been the company’s hallmark, enabling Nexans to drive a safer, smarter and more efficient future together with its customers. Today, the Nexans Group is committed to facilitating energy transition and supporting the exponential growth of data by empowering its customers in four main business areas: Building & Territories (including utilities, smart grids, emobility), High Voltage & Projects (covering offshore wind farms, submarine interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, Oil & Gas, automation, and others). Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans became the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables drives its active involvement within several leading industry associations, including Europacable, The National Electrical Manufacturers Association (NEMA), International Cablemakers Federation (ICF) or CIGRE to mention a few. Nexans employs more than 26,000 people with industrial footprint in 34 countries and commercial activities worldwide. In 2017, the Group generated 6.4 billion euros in sales. Nexans is listed on Euronext Paris, compartment A. For more information, please consult: www.nexans.com
G2mobility develops and sells a complete range of Alto, Soprano and Diva charging stations as well as advanced G2Box et G2Smart management systems. Open to electric mobility standards, G2mobility’s products and services can be used to build solutions precisely tailored to the needs and constraints of corporate environments, vehicle fleets and public authorities. www.g2mobility.com
About Innovacom — The new fund for digital entrepreneurs
Since 1988, Innovacom has invested nearly one billion euros to support hundreds of start-ups and has established a reputation as a specialist in high-tech projects. The company has been involved in close to two dozen IPOs and some 150 trade sales. It holds some of the most symbolic success stories in French innovation (including Business Objects, Gemplus, LastMinute.com, Inventel, Soitec, Aufeminin.com, Digitick, Owlient and Olea Medical). Innovacom currently manages a portfolio of €300 million through its innovation and seed funds Innovacom 5, Innovacom 6 and Technocom 2, putting it among the top 10 French players in the sector. Recent investments include backing for companies such as 21Net, Air-Lynx, CAILabs, Cozy Cloud, Exagan, Feeligreen, Intersec, I-ten, Kolibree, MicroEJ and Predicsis. Based in Paris, Aix-en-Provence, Stockholm and San Francisco, Innovacom is an independent company approved by the French market authority (AMF). http://www.innovacom.com/
Bpifrance—a subsidiary of Caisse des Dépôts and part owned by the French government—is a trusted partner for entrepreneurs that provides support for companies ranging from initial seed capital to stock-market listing through loans, underwriting and equity. Bpifrance also delivers services to promote innovation, external growth and export in partnership with Business France. Bpifrance offers companies a series of financing solutions for each milestone in their business development, along with solutions tailored to specific regional requirements. With 50 regional branches (and 90% of decisions made on a regional level), Bpifrance offers entrepreneurs a means of boosting their economic competitiveness. Bpifrance supports a range of policies implemented by central government and local authorities to meet three key goals: • support the growth of companies; • improve competitiveness in the future; • help develop an ecosystem favorable to entrepreneurship. Bpifrance gives companies a powerful, effective point of contact on their doorstep to address their full range of needs in terms of financing, innovation and investment. For details, visit: www.bpifrance.fr – http://investissementsdavenir.bpifrance.fr/– Follow us on Twitter: @bpifrance @BpifrancePresse