Gleiss Lutz advises Heinz Dürr Invest on a 20-million-euro round of financing for ubitricity
Gleiss Lutz has been advising Heinz Dürr Invest GmbH on the most recent round of financing for ubitricity Gesellschaft für verteilte Energiesysteme mbH (ubitricity). To date, Heinz Dürr Invest has been ubitricity’s principal shareholder. This round of financing was for 20 million euros. Besides Heinz Dürr Invest, the other ubitricity shareholders took part in the financing, namely EDF and Next47, as well as the new partner Honda Motor Company.
Ubitricity has developed an intelligent charging and billing solution for smart AC charging of electric vehicles. Mobile metering technology makes charge points technically simpler and therefore cheaper. It turn, this enables the charging infrastructure to be comprehensive in terms of its coverage.
The funds provided will help the Berlin-based company to accelerate its growth and further develop its mobile metering technology. Specifically, the financing will accelerate expansion of the charging infrastructure, including lamp post charge points and charge points in property investments in Great Britain, Germany, France and the US. In parallel, the technology for the mass market expected from 2020 is being further developed and conditions created for services over the entire spectrum of V1G and V2G charging concepts.
Heinz Dürr Invest GmbH was advised by a team centred around Dr. Martin Viciano Gofferje (partner, lead) and Dr. Micha Pfarr (both corporate/M&A, both Berlin). Gleiss Lutz partner Martin Viciano Gofferje has previously advised Heinz Dürr Invest on numerous rounds of financing for ubitricity.