Horizon has acquired a 75% stake in WOW Plug, Lda. to establish a public electric vehicle charging network, capitalizing on the growing demand for electric mobility solutions in Europe.
Information on the Target
Horizon has acquired a 75% stake in WOW Plug, Lda., a company dedicated to establishing a public electric vehicle charging network. WOW Plug operates as a Charging Point Operator (CPO), which is a licensed entity responsible for the installation, provision, operation, and maintenance of electric vehicle charging points that are accessible to both public and private entities.
The initial phase of this initiative aims to develop a robust network of up to 800 electric vehicle chargers across nine municipalities. WOW Plug has already secured agreements with six city councils to install over 500 electric vehicle charging stations and is actively seeking a financial partner to support and fund the development of this significant infrastructure project.
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Industry Overview in the Target’s Specific Country
The electric mobility landscape in Europe is undergoing a remarkable transformation, driven by legislative support and increasing consumer demand for sustainable transportation solutions. Th
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Horizon
invested in
WOW Plug, Lda.
in 2023
in a Growth Equity & Expansion Capital deal