Driveco, a leading innovative electric vehicle charging company, has announced a €250 million equity and quasi-equity fundraising from Dutch pension fund manager APG, acting on behalf of the ABP and PPF funds. The transaction represents the largest fundraising in the electric charging point sector in France and one of the most significant in the sector, globally.

APG’s investment aims to support Driveco’s ambition to become a major player in electric vehicle charging infrastructure in France and Europe. This fundraising will enable Driveco to strengthen its already significant presence, notably by deploying its own charging stations, to accelerate its internationalisation strategy (by pursuing its development in France and Belgium and expanding to Germany, Spain, Italy, Switzerland and the Netherlands) and to consolidate its technological innovation strategy to continuously improve customer experience.

The objective for Driveco is to operate over 60,000 charging points in Europe by 2030, avoiding 3 million tons of CO2 emissions per year, in line with the European Union’s “Fit for 55” objectives.

Existing shareholders Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investments, through its fund Mirova Eurofideme 4, and Corsica Sole, remain invested in Driveco.

Clifford Chance advised APG on this transaction with a team comprising Benjamin de Blégiers and Emmanuel Mimin, partners, Raphaël Durand, counsel, and Benjamin Saada, associate, on the corporate aspects; Alexandre Lagarrigue, partner, and Pierre Goyat, counsel, on the tax aspects; Gauthier Martin, partner, and Benoît Offe, associate, on the regulatory aspects; as well as Guillaume Massole, counsel, on the finance aspects.