FreeWire Tech Raises $50 Million to Expand EV Charging
San Leandro business FreeWire Technologies, who provides electric vehicle (EV) charging and power solutions, has raised $50 million in Series C funding to expand production capacity of their Boost Charger and continue their expansion into international markets.
FreeWire’s Boost Charger is a new battery-integrated electric vehicle charger that connects to existing electric infrastructure to provide ultrafast vehicle charging with lower cost and strain on the electrical grid. FreeWire also produces the Mobi EV Charger, a battery-powered and mobile electrical vehicle charger, and the Mobi Gen, an emission-free battery-powered mobile generator for construction and other operations.
With the demand for electric vehicle charging rapidly increasing, FreeWire’s Boost Charger connects to existing low-voltage grid infrastructure while enabling high power DC fast-charging from its integrated 160 kWh lithium-ion battery. This technology enables ultrafast charging where high power grid connections are not readily available or are cost prohibitive.
This latest round of funding brings the six-year-old company’s total venture funding to nearly $100 million. The investment comes on the heels of a recent agreement with the United Kingdom’s (UK) largest charging network operator, bp pulse, to be the exclusive operator of the company’s Boost Charger in the UK. FreeWire has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. The company intends to deploy more than 2,500 ultrafast charging stations by 2025.
These efforts work towards supporting widespread EV adoption and meeting the greenhouse gas reduction goals found in San Leandro’s Climate Action Plan, as well as California’s requirement that all new passenger vehicles be zero emission by the year 2035.
FreeWire has been a San Leandro business since 2017 and in that time has been busy expanding its team and advancing it’s products at the Gate510. Located above the WestGate Shopping Center, Gate510 includes over 300,000 sf of space where innovative businesses, makers, scientists and entrepreneurs can collaborate and grow their businesses. Some of these businesses include growing biotech company Geltor, sustainable biochemical company CinderBio, technology companies working in 3-D printing, virtual reality, and drones, as well as coffee roasters, artists, and community favorites like Pinx Catering and Drake’s Brewing. The Gate510 is also connected to the Lit San Leandro fiber optic loop, and businesses benefit from lighting fast internet speeds.