Christchurch-based EV smart charger manufacturer and developer, Evnex has secured funding and is set to expand into Australia.

Evnex has secured funding from Adamentem Capital’s Environment Opportunities Fund, a private equity firm in Australia to support the Kiwi start-up in expanding across the Tasman.

The EV chargers are the preferred charging partner for global vehicle brands such as Volkswagen, Volvo, Skoda, Cupra, Subaru and LDV in New Zealand. Evnex also has a partnership with Polestar and Z Energy.

The firm, known for partnering up with high-growth organisations that deliver positive environmental impacts will give Evnex an opportunity to “unleash growth at a pivotal time” as the demand for electric vehicles grows, says Founder and CEO Ed Harvey.

“This is a really exciting day for Evnex. This investment will allow us to expand our footprint across Australia, increase manufacturing efficiencies and drive innovating through new product development,” adds Harvey.

“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.

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“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.”

Since its start, Evnex has installed over 6000 home and business chargers and is forecasting an additional 7000 to be sold over the next year in both New Zealand and Australia.

“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,” says Harvey.

The company is seeing peak demand in both New Zealand and Australia as more households shift to electric vehicles. And as the company sees more and more smart chargers enter the market, Evnex uses their smart technology to differentiate themselves.

“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,” he adds.

Adamantem Capital Managing Director, Rajiv Viswanathan says that is why they decided to invest with Evnex, the smart charging solution that is the leader of the charging infrastructure revolution.