SUSI Partners has acquired a majority stake in Norwegian electric vehicle charging point operator Elaway. Financial terms were not disclosed.
Elaway provides housing communities in apartment buildings or multifamily houses with a one-stop, as-a-service charging solution covering procurement, installation, financing and operation of the charging infrastructure. Elaway has recently expanded its offering to Germany and Sweden and plans to establish its business in other European markets in the medium term, and SUSI Partners’ capital injection will support the company’s expansion plans.
The company was co-founded by Norwegian utilities Hafslund AS and Eviny AS, which will retain minority stakes and will continue supporting Elaway’s growth, in partnership with SUSI Partners.
The transaction was made on behalf of the SUSI Energy Transition Fund (SETF), representing the fund’s ninth portfolio company and third acquisition within two months. In May, the fund