PRESS RELEASE
Amsterdam, September 2024
Is faster always better? EV charging company Pluq doesn’t think so. Slower charging is more efficient, affordable, and reduces stress on the electrical grid. Swedish investor P Capital Partners agrees—and has granted Pluq a €50 million framework credit facility to expand its destination charging network across the Netherlands, Belgium, and Germany.
Amsterdam-based Pluq focuses on Destination Charging: providing EV charging at locations where people want—or need—to stay longer. Think hotels, offices, hospitals, and amusement parks. Using existing infrastructure, destination charging turns parking into a cost-effective, time-saving, and energy-smart solution. It also opens up a new revenue stream for site owners, as Pluq fully finances the installation and maintenance while sharing profits with host locations.
“With so much attention going to fast and public charging, there’s still a world to gain in the semi-public, destination-driven space,” says Lars de Boer, Investment Manager at P Capital Partners.
“Scale is everything in EV charging,” adds Ulf Hamberg, Managing Partner. “We’re excited to support Pluq’s next step with this financial framework.”
For Pluq, the partnership with P Capital Partners is a strong endorsement of its bold and focused vision. CEO and co-founder Pieter Zijlema explains:
“This funding allows us to accelerate our plans and make EV charging more accessible—without overloading the power grid. When it comes to charging, faster isn’t always better. But when it comes to growing our network, we can’t go fast enough.”
Pluq extends its gratitude to P Capital Partners for their trust, and to Santander Corporate & Investment Banking for their advisory role and for structuring the financing round.
Also read: Why Swedish investor PCP wants to power up Dutch EV company Pluq.
