large image

Koch Invests in Electric Vehicle Charging Solutions

February 10, 2021

min read

Koch Strategic Platforms, a new subsidiary of Koch Investments Group that is part of Koch Industries, has announced a new partnership with EVBox Group, a pioneer in the development of electric vehicle charging station solutions.

“The world continues to see significant change as technology and innovation impact everything we do," said David Park, president of Koch Strategic Platforms. "Our investment in EVBox demonstrates Koch's continuous commitment to evaluating specific industries for potential investment opportunities, including the energy transformation space.”

KSP and EVBox will explore multiple opportunities for growth in the U.S. and abroad, including collaboration on matters ranging from software and hardware technology integration, project management, operations excellence, and domestic sales and marketing.

David further explained Koch’s long-term vision for investing in EVBox’s technology to scale across the United States in an interview with Bloomberg, including considering the installation of charging stations at company locations around the world.

“We believe there are huge opportunities for charging and EVBox will become a global leader,” he said.

Since November, KSP has invested $1.2 billion across four areas: computing and connectivity; industrial automation; health care; and energy transformation, including through recent private investments in public equity supporting special-purpose acquisition company mergers with REE Automotive, Freyr AS, and Microvast.

KSP is targeting a total outlay of $2 billion to $3 billion by the end of 2021. Moving forward, David added, KSP is “looking to take material minority equity positions in great companies with strong management teams that operate in industries with tailwinds.”

“We want to partner with companies that can potentially transform Koch Industries and experience a mutual benefit by accelerating growth with our assistance in penetrating the U.S. market or through sharing in-house technology and sales capabilities,” David said.