EIB Lends €18 Million To Rocsys for Robotic EV Charging Infrastructure Research and Development
Listen to this story:
- The EIB and electric vehicle charging innovator Rocsys BV sign €18 million quasi-equity agreement to finance the development and deployment of next-gen robotic charging.
- The financing will be used for Rocsys’ second and third generation autonomous charging solutions, currently being developed in the Netherlands.
- This agreement was made possible with the support of the InvestEU programme, which aims to trigger over €372 billion in additional investment over the period 2021-2027.
Netherlands-based provider of autonomous charging solutions for electric transport Rocsys BV has signed a €18 million quasi-equity deal with the European Investment Bank (EIB). The agreement will provide Rocsys with financing to accelerate the development and deployment of its second and third generation autonomous robotic charging solutions over the 2023-2025 period. Rocsys’ investment plans for this period will focus both on hardware and software technology development, as well as testing equipment. The EIB financing for the project is made possible with the support of the InvestEU programme, which aims to mobilise over €372 billion in additional investment for EU policy priorities over the period 2021-2027.
EIB Vice-President Kris Peeters commented: “With the increasing popularity of both private and professional electric vehicles, robotic charging can seriously improve the efficiency and convenience of charging operations. This, in turn, can help to accelerate the transition towards zero-emission electric vehicles, which is crucial for decarbonising our economies. After LeydenJar, Rocsys is yet another Dutch company that can have an important impact on the electric vehicle sector.”
Some of the main advantages of Rocsys’ technology, which is based on biomechanical soft robotics for exoskeletons initially developed at Delft University, are its safety, low cost, and scalability. The technology can be retrofitted on any standard electric vehicle connector and charging equipment and thus does not depend on changing any charging hardware.
See related article: EIB Provides €62 Million to AMT3 to Develop Sustainable Mobility in Verona
“Rocsys combines the power of robotics and AI to streamline the electric vehicle experience by enabling autonomous charging. We believe that this technology will significantly contribute to the global adoption of zero-emission vehicles among both consumers and fleets while moving us closer to a world of fully autonomous mobility,” said Rocsys Co-founder and CEO Crijn Bouman. “This recognition and investment from the EIB shows that our vision is aligned with the key institutions shaping the future of sustainable transportation.”
European Commissioner for the Economy Paolo Gentiloni added: “Decarbonising our economies requires substantial and continuous investment in innovative technologies. I am proud of the significant contribution that InvestEU is making in this context. This agreement will support an infrastructure innovator business in the Netherlands developing autonomous robotic charging solutions. It will unlock the necessary resources at a critical stage of the technological development, while advancing important goals for the green transition such as a sustainable and clean modes of transport.”
The InvestEU support of the Rocsys financing falls under the Thematic Green Transition product, supporting sustainable investments and future technologies, in support of the transition to a low-carbon economy. InvestEU will enable the EIB to support Rocsys in a critical stage of its technological development. This agreement is expected to have a signalling and crowding-in effect on other equity and debt providers.