A fund managed by Swiss Life Asset Managers has acquired a majority equity interest in Powy, an independent owner and operator of electric vehicle (EV)-charging infrastructure in Italy and Spain.
Headquartered in Turin, Italy, Powy develops, owns and operates a portfolio of quick, fast and ultra-fast EV charging stations. The company now operates more than 400 charging points in about 150 different premium locations across Italy and Spain, where the company secures long-term rights for the ownership, construction and operation of public EV-charging infrastructure.
As the anchor financial investor, the Swiss Life fund’s €84 million ($91 million) investment will support Powy’s growth ambitions in expanding its EV-charging footprint across Europe.
“We are delighted to have gained the trust of Powy’s founders and shareholders and are excited to support the company in its next phase,” said Gianfranco Saladino, head value-add infrastructure at Swiss Life A