ORLEN VC Fund has invested in EUROLOOP, a manufacturer of ultra-fast electric vehicle charging stations. The Polish startup’s chargers, already used by drivers in 7 European countries, are among the fastest on the market, providing access to up to 720 kW of direct current power.
EUROLOOP’s solution significantly shortens vehicle charging times, thereby improving user comfort. The 720 kW power ensures that every currently available electric vehicle can charge at its maximum capacity. Utilizing silicon carbide technology, the charging station achieves 97% efficiency in converting alternating current (AC) to direct current (DC). A significant competitive advantage of the company is also the dynamic power sharing technology (S-Hub product version) between two connected charging stations. Both functionalities significantly reduce the maintenance costs of the charging stations. Thanks to the connected system, two chargers operate as one, sharing power between them and adjusting it according to demand, allowing up to eight cars to be charged simultaneously while dynamically managing the load of the modules and their charging speeds.
“According to the updated ORLEN Group Strategy until 2030, 10,000 electric car charging points are to be established in Central Europe. This is a significant challenge in terms of building infrastructure and ensuring locations, but also in selecting a technology provider that will meet the increasingly high customer expectations. We are convinced that the priorities of EUROLOOP’s founders, namely high efficiency, power, and flexibility of chargers as well as lower operating costs, perfectly fit the needs of the ORLEN Group. The fund finalized the transaction in December 2023, maintaining high investment activity and once again showing how effectively to combine investments in modern technologies with the search for potential synergies,” says Marek Garniewski, President of the Board at ORLEN VC.
EUROLOOP sells chargers under the WILLBERT brand in Western Europe, and thanks to the partnership with ORLEN VC, they will also be available in Poland. Additionally, it provides customers with a proprietary charging station management system under the HAWKe brand, which includes a comprehensive ad-hoc payment system with a payment terminal. The funds obtained from ORLEN VC will also be used for the development of sales in foreign markets, increasing production capacity, and working capital.
“EUROLOOP chargers combine two functions – the flexibility of distributed chargers with the simplicity of freestanding chargers. The advantage of the WILLBERT Amber II with S-Hub technology is a significant reduction in the number of devices needed to be installed, which reduces capital costs and minimizes environmental impact. The thoughtful design of the 2-sided charger with extended range allows for simultaneous charging of 4 to 8 vehicles (with 2 stations in the S-Hub version), which means that EUROLOOP charging stations can potentially replace fuel dispensers at gas stations without significant changes to the spatial layout. It’s a great pleasure to expand our operations with such a serious partner as ORLEN VC,” says Marek Gutt-Mostowy, CEO and Founder of EUROLOOP Sp. z o.o.
EUROLOOP is the tenth investment by ORLEN VC. Within two years of its activity, the fund has joined the ranks of the largest and most active venture capital funds from the Central European region. Its portfolio also includes two international venture capital funds. In line with its objectives, ORLEN VC plans to make 5-6 investments annually, focusing on the most promising companies with innovative and commercializable technologies that will support the goals set in the ORLEN2030 strategy.
