AMSTERDAM | MUNICH | ZURICH | GENEVA | March 30, 2021 – Mercuria, one of the world’s largest integrated independent energy and commodity trading companies, announced a strategic investment in The Mobility House AG (TMH), a leading technology company that dedicates itself to integrating electric vehicles intelligently into the energy system. The investment provides Mercuria with the opportunity to deploy capital in electric vehicle integration in the energy markets, joining The Mobility House’s journey to significant long-term value creation in energy flexibility solutions. Over the next five years, 50% of Mercuria’s new investments will be in renewable energies and with their investment in a technology company like TMH, they are one step closer to reaching a renewable-driven future.
The investment follows shortly after a fundraising in Q3 2020, in which TMH secured a Private Placement from the SP Group and a Financing Facility by the European Investment Bank to explore smart charging (V1G) and vehicle-to-grid (V2G) feasibility in Singapore. Drake Star Partners also acted as the financial advisor to The Mobility House in this transaction.
Following other landmark deals within the global Mobility and Energy Transition domain, such as the sale of ubitricity to Shell and the series C fundraise of FreeWire led by Riverstone, this is now the 5th consecutive transaction by Drake Star Partners in the Mobility & Energy Transition space in Q1 2021.
TMH’s solution ChargePilot, the award-winning Charging and Energy Management System with its underlaying EEV aggregation platform, creates the basis for uni- and bi-directional integration of electric vehicles into the power grid. It converts electric car batteries into essential assets for the energy transition, by providing flexibility to the grid, which subsequently promotes the integration of renewable energies. The Mobility House is currently offering the only non-proprietary and open technology based on industrial interfaces on the market. It has already proven to be successful with many international clients and in several future-oriented pilot projects. They demonstrated the considerable reduction of CO2 emissions and highlighted the possibility for electric car owners to generate revenues.
Jean François Steels, Vice President Energy Transition at Mercuria, says: “As we embark in our energy transition journey, we see this investment as a smart way to link electric mobility with renewable energy, two fast-growing sectors. This solution is increasing the flexibility of energy markets, which need to accommodate the growing intermittent new renewable sources of power supply”.
“We are honored that Mercuria joins as an investor to support The Mobility House’s growth and internationalisation. Both new investors, Singapore Power and Mercuria are strategic shareholders to strengthen the energy part of our business model globally” commented Franz Peter Weber, TMH’s Chief Financial Officer.
“Another transaction underlying the growth of a leading energy transition player,” said Dominique Houde, Partner for Mobility & Energy Transition at Drake Star Partners, Amsterdam. Dominique Houde continues: “This strategic investment in TMH by one of the leading energy trading groups worldwide marks a clear step in the importance of grid integration and optimisation in electric mobility. The area is ready to demonstrate not only major scalability but also its significant potential for monetisation. The transaction adds to the expertise we can make available to other players aiming for a leading position in the e-mobility sector”.
Drake Star Partners team: Dominique Houde, Bas Hendriks, Luuk Hulzebos, Thomas Smal
Legal advisor to The Mobility House: Hogan Lovells and Walder Wyss
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Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
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