Wallbox Chargers, a company that designs, manufactures and distributes electric vehicle charging systems, has disclosed that it has secured a $45-million investment from multiple investors.
Lead investor Generac Power Systems, a designer, manufacturer and provider of energy technologies, will use the investment to reinforce its ongoing partnership with the Barcelona-headquartered company. Generac has over 8,000 authorized installers, and Wallbox chargers can be integrated with other Generac energy management systems, Wallbox said. This is an important advantage, given that the company is a major manufacturer of home standby and backup generation systems.
Wallbox said the investment will strengthen its balance sheet and provide additional capital that will allow it to manufacture more chargers.
The latest investment, which is Generac’s second in Wallbox, “further accelerates our Powering A Smarter World enterprise strategy,” the Waukesha, Wisconsin company’s CEO, Aaron Jagdfeld, said. “Our strategic alliance provides Generac and our distribution partners deeper access to Wallbox’s technology and will enable deeper integration of Wallbox EV chargers into our residential and C&I energy ecosystem.”
In December 2024, Paolo Campinoti, a Generac Executive Vice President, was appointed to Wallbox’s board of directors.
Source: Wallbox Chargers