FLO Charges Ahead with $136M Financing
June 14, 2024, 3:41 pm
Location: Canada, Montreal (06), Montreal
Employees: 1001-5000
Founded date: 1965
FLO, a top North American EV charging network operator, secures a record-breaking $136 million in funding to expand its network and launch new products.
FLO, a leading North American electric vehicle (EV) charging network operator and smart charging solutions provider, has just locked in a massive $136 million in long-term capital. This financing round, led by Export Development Canada (EDC), marks the largest in the company's history.
The investment will fuel FLO's growth in both the U.S. and Canada, as well as accelerate the deployment of its reliable charging network. Additionally, the funding will support the rollout of FLO's latest products, including the NEVI and Buy America-compliant FLO Ultra fast charger, and the next generation of FLO Home residential chargers.
Louis Tremblay, FLO's President and CEO, expressed gratitude to the financing partners who believe in FLO's mission to combat climate change by engineering and operating a top-notch EV charging network. EDC, a long-time supporter of FLO, will have Erik Brien-Wright, Partner at EDC, join FLO's board of directors.
Other key players in the financing round include Caisse de dépôt et placement du Québec (CDPQ), Investissement Québec (IQ), Business Development Bank of Canada (BDC), Energy Impact Partners (EIP), and MacKinnon, Bennett & Company Inc. (MKB). These partners share FLO's vision of long-term growth and strategic market expansion.
FLO is gearing up to launch two game-changing products - an innovative DC ultra fast charger and the next generation of residential chargers. The FLO Ultra charger boasts a driver-centric design and can charge most new EVs to 80% in just 15 minutes with 320kW of power. The charger is also designed to comply with NEVI standards and the Buy America Act.
The new FLO Home chargers will offer three flexible options to meet the diverse needs of EV drivers, with increased power options and connector choices. These products will be available starting this summer through FLO's distribution partners.
With the support of its financing partners, FLO is set to continue its mission of providing the best charging experience for all EV drivers. The company's commitment to quality and reliability has been instrumental in advancing EV infrastructure across North America.
FLO's success in securing this substantial financing is a testament to its position as a leader in the EV charging solutions space. With a focus on innovation and sustainability, FLO is driving the shift towards electric transportation and a greener future for all.
FLO, a leading North American electric vehicle (EV) charging network operator and smart charging solutions provider, has just locked in a massive $136 million in long-term capital. This financing round, led by Export Development Canada (EDC), marks the largest in the company's history.
The investment will fuel FLO's growth in both the U.S. and Canada, as well as accelerate the deployment of its reliable charging network. Additionally, the funding will support the rollout of FLO's latest products, including the NEVI and Buy America-compliant FLO Ultra fast charger, and the next generation of FLO Home residential chargers.
Louis Tremblay, FLO's President and CEO, expressed gratitude to the financing partners who believe in FLO's mission to combat climate change by engineering and operating a top-notch EV charging network. EDC, a long-time supporter of FLO, will have Erik Brien-Wright, Partner at EDC, join FLO's board of directors.
Other key players in the financing round include Caisse de dépôt et placement du Québec (CDPQ), Investissement Québec (IQ), Business Development Bank of Canada (BDC), Energy Impact Partners (EIP), and MacKinnon, Bennett & Company Inc. (MKB). These partners share FLO's vision of long-term growth and strategic market expansion.
FLO is gearing up to launch two game-changing products - an innovative DC ultra fast charger and the next generation of residential chargers. The FLO Ultra charger boasts a driver-centric design and can charge most new EVs to 80% in just 15 minutes with 320kW of power. The charger is also designed to comply with NEVI standards and the Buy America Act.
The new FLO Home chargers will offer three flexible options to meet the diverse needs of EV drivers, with increased power options and connector choices. These products will be available starting this summer through FLO's distribution partners.
With the support of its financing partners, FLO is set to continue its mission of providing the best charging experience for all EV drivers. The company's commitment to quality and reliability has been instrumental in advancing EV infrastructure across North America.
FLO's success in securing this substantial financing is a testament to its position as a leader in the EV charging solutions space. With a focus on innovation and sustainability, FLO is driving the shift towards electric transportation and a greener future for all.