FLO, a leading North American electric vehicle (EV) charging network operator, has secured $136 million in Series E equity financing led by Export Development Canada (EDC).
This funding will support FLO's growth in the U.S. and Canada, and accelerate the deployment of its new products, including the NEVI and Buy America-compliant FLO Ultra fast charger and the next generation of FLO Home residential chargers.
The investment will also aid the expansion of FLO's network at high-utilization sites.
“This financing will help FLO continue our work to deploy reliable, critically needed EV charging infrastructure across North America,” said Louis Tremblay, FLO President and CEO.
Strategic Investments and Partnerships
The equity raise was also supported by Caisse de dépôt et placement du Québec (CDPQ), Investissement Québec (IQ), Business Development Bank of Canada (BDC), Energy Impact Partners (EIP), and MacKinnon, Bennett & Company Inc. (MKB).
This financial boost will enable FLO to scale across North America and deliver innovative EV charging solutions that contribute to a low-carbon future.
New Product Launches
FLO is launching two significant new products this year.
The dual-port FLO Ultra charger, capable of charging most new EVs to 80% in 15 minutes with 320kW of power, will be available soon.
Additionally, the next generation of FLO Home EV chargers will offer flexible options to meet various needs, with increased power availability and different connector choices.
These products aim to enhance the EV charging experience and support U.S. federal initiatives for a nationwide EV charging network.
“We’ve backed FLO’s growth momentum for nearly a decade now...This investment by CDPQ will accelerate FLO’s deployment into new markets and foster the commercialization of new products,” said Kim Thomassin, Executive Vice-President at CDPQ.
Future Outlook
FLO’s expansion and new product rollouts will significantly advance EV infrastructure across North America, making EV charging more accessible and reliable. This progress is essential for promoting EV adoption and achieving climate targets.
For more details, visit the full article on FLO's website.
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