Pluglink, an electric vehicle charging platform, has signed an investment agreement for a total of 15 billion won ($12 million) in electric vehicle charger assets. The investment agreement will be carried out by a KDB Infrastructure Asset Management fund.
Pluglink plans to provide a total charging service for more than 7,400 EV chargers in Korea. The domestic EV charging infrastructure market has been chiefly venture capital-oriented. Still, Pluglink has introduced alternative investment in electric vehicle charger assets in consideration of the rapidly growing charging infrastructure market size.
Kang In-Cheol, CEO of Pluglink, said, “Starting with this first investment agreement in Korea, we will actively promote large-scale financing for charging infrastructure and various structured financing.” Including this investment and the 2 billion won ($1.5 million) investment by local city gas companies, Pluglink has so far attracted a total of 30 billion won ($24 million).
Pluglink is the industry’s first electric vehicle charging platform to join K-RE100 and practice ESG management. The company has exceeded 10,000 contract orders for services, including EV chargers, and operating electric vehicle charging stations in about 1,100 locations, including apartments and commercial and public facilities nationwide. Pluglink was selected as an auxiliary business operator for rapid charging facilities by the Ministry of Environment in 2023.
- Korean startup WiPowerOne set to enter the UK market with its wireless EV charging facility
- EV charging platform operator Scalar Data attracts strategic investment from GS Energy
- Korean electric vehicle charging solutions startup EVAR awarded ‘Triple-Crown’ in CES 2023
- Korean startup develops an AI mobility safety management platform to avert delivery service road accidents