Cube Infrastructure Managers has strengthened its foothold in Norway’s EV charging infrastructure sector through the acquisition of a majority stake in Kople, the EV charging network subsidiary of Ringerikskraft.
Under the transaction, Cube Infrastructure Fund III will inject NOK 390 million ($45 million) in the company to support its growth and geographic expansion. The investment in Kople is the fourth transaction led by Cube in the European EV charging sector.
Ringerikskraft has been active in the Norwegian EV charging market since 2010 and created the Kople brand in 2019 prior to transferring its assets, expertise and team into a separate Kople entity in 2021.
With the financial support of Cube and Ringerikskraft, Kople is planning to scale up its platform to develop its services to existing and potential partners and accelerate the deployment of its own network across Norway and the Nordics. The company is aiming to have more than 2,000 Kople chargers wit