Pictured above: Evnex CFO Wendy Schmidt and Founder and CEO Ed Harvey.
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.
Christchurch-based Evnex has secured funding from Australian private equity firm Adamantem Capitalโs Environmental Opportunities Fund, which partners with high-growth organisations that deliver positive environmental impacts.
Evnex Founder and CEO Ed Harvey says the investment will unleash growth at a pivotal time as sales for electric vehicles rapidly increase.
Evnex is a manufacturer specialising in locally made, sustainably-sourced, smart and efficient charging solutions, dedicated to empowering the widespread adoption of electric vehicles by addressing crucial aspects of charging infrastructure.
โThis is a really exciting day for Evnex,โ say Harvey following the announcement on Tuesday.
โThis investment will allow us to expand our footprint across Australia, increase manufacturing efficiencies, and drive innovation through new product development.
โWeโre marking a decade in business this year and weโre really proud of the reputation weโve built as we grow New Zealandโs standing as a leading developer of smart charging technology.
โOur mission is to deliver the worldโs best home EV charging experience, with the lightest impact on Earth and weโre now in a stronger position to do exactly that,โ says Harvey.
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 brands including Volkswagen, Volvo, Skoda, Cupra, Subaru, and LDV in New Zealand. It also has a partnership with Polestar and Z Energy.
โAs 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.โ
Harvey says recent power shortage warnings across New Zealand show just how vital Evnexโs technology is.
โPeak demand usage in New Zealand and Australia is growing as more and more households move from gas to electric and purchase electric vehicles.
โOur 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.โ
Adamantem Capital Managing Director, Rajiv Viswanathan says of the investment: โWe 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.โ
