Ultra-fast charging firm IONITY has secured financing of up to €600m, including €450m in committed green loan facilities and a so-called accordion facility.
This loan transaction, provided by nine leading international commercial banks, marks one of the largest ever in the European charging industry. There is also an option to increase the credit line by up to €150 million later for future growth.
With the new capital, IONITY will “continue to invest in future-proofing Europe’s charging infrastructure”, it said. It follows the completion of a €700m equity round in 2022, led by BlackRock Global Infrastructure Partners Fund and IONITY’s OEM shareholders.
IONITY will invest the new capital in the continued expansion and upgrade of its ultra-fast charging network, focusing on highways and urban hubs. Currently operating over 5,000 charging points, the company aims to more than double the number of charging points to approximately 13,000 and grow its network to more than 1,300 charging sites by the end of 2030.
Through continuous integration of new technologies, the company is moving closer to its goal of enabling high-power charging sessions that add several hundred kilometres of range in less than 10 minutes.
IONITY also ensures full compatibility across all electric vehicle models by validating new hardware and software at its dedicated test centre near Munich.
IONITY’s shareholders BMW Group, Ford, Hyundai, Kia, Mercedes-Benz, Volkswagen Group ─ including Audi and Porsche ─ and BlackRock’s Global Infrastructure Partners Fund are also playing a “significant role in supporting IONITY in the process”, it said.
Torsten Kiedel, CFO of IONITY, said:
“This financing marks a major milestone ─ not just for IONITY, but for Europe’s transition to clean, sustainable mobility. From day one, we’ve proactively built a truly European high-power charging network ─ without compromising on speed, reliability, or convenience.
“Now, we’re scaling faster than ever to build the backbone of tomorrow’s sustainable mobility infrastructure and bring ultra-fast charging to everyday destinations. Our mission is clear: to power seamless electric journeys and create lasting value for the economy, society, and the environment.”
Christian Wiehenbrauk, Vice President Product Strategy at Porsche AG and current chairperson of the IONITY shareholder committee, said:
“As shareholders, we are proud to continue supporting and advising IONITY together with these top financial institutions. We reinforce our strong commitment to the further growth of IONITY as it is a key pillar in our pan-European high performance charging strategy.
“With the new financing, IONITY is accelerating its growth and reinforcing its position as a European leader, realizing its strategic vision.”
Séverine Mateo, Global Head of Low Carbon Transition Group at BNPP said:
“BNP Paribas is pleased to accompany IONITY in its €450m loan raising as both financial advisor and Mandated Lead Arranger, to support its European expansion.
“This financing, which is one of the largest raised to date for a Charge Point Operator, demonstrates IONITY’s European leadership, and its global commercial reach for EV charging. BNP Paribas, through its Low Carbon Transition Group, is committed to fostering its clients’ transitions to a sustainable and low carbon economy. This financing is testament to our longstanding relationship with IONITY and its shareholders.”
Image courtesy of IONITY
