New Zealand EV smart charger manufacturer and software developer Evnex is poised to expand across Australia and accelerate product innovation thanks to a strategic investment.
The Christchurch-based company has secured funding from Australian private equity firm Adamantem Capital’s Environmental Opportunities Fund, which partners with high-growth organisations that deliver positive environmental impacts.
Evnex Founder and CEO Ed Harvey said the investment will unleash growth at a pivotal time as sales for electric vehicles rapidly increase.
“This is a really exciting day for Evnex,” said Harvey.
“This investment will allow us to expand our footprint across Australia, increase manufacturing efficiencies, and drive innovation through new product development.
“We’re marking a decade in business this year and we’re really proud of the reputation we’ve built as we grow New Zealand’s standing as a leading developer of smart charging technology.
“Our mission is to deliver the world’s best home EV charging experience, with the lightest impact on Earth and we’re now in a stronger position to do exactly that.”
Evnex has installed more than 6,000 home and business chargers across New Zealand and Australia, and forecasts an additional 7,000 units to be sold over the next year across both countries. The company is the preferred charging partner for renowned brands including Volkswagen, Volvo, Skoda, Cupra, Subaru, and LDV in New Zealand. It also has a partnership with Polestar and Z Energy.
“As our grid is decarbonised with increasing amounts of variable renewable generation, smart technologies that can match demand with times when generation is plentiful become increasingly important.”
Harvey says recent power shortage warnings across New Zealand show just how vital Evnex’s technology is.
“Peak demand usage in New Zealand and Australia is growing as more and more households move from gas to electric and purchase electric vehicles.
“Our technology is able to respond in real-time, shifting charging to off-peak times, this helps to avoid stress on the network and also reduces the need for fossil fuels to be used in the energy generation process.”
Adamantem Capital Managing Director, Rajiv Viswanathan said: “We are delighted to be partnering with Ed Harvey and the Evnex team to support the rapid adoption of electric vehicles through cutting-edge smart charging solutions.”
Evnex smart chargers are made New Zealand-made, featuring locally-sourced components and assembly.
