German Venture Firm Raises $3.75 Million for EV-Charging Network Maker Coulomb
By John O'Dell January 26, 2009
Electric-vehicle charging specialist Coulomb Technologies said it has obtained $3.75 million in funding in a financing round led by Germany's Estag Capital.
The cash will enable the Northern California company to continue development and marketing of its ChargePoint networked charging stations, said Coulomb CEO Richard Lowenthal.
The company announced in December that it has more than 40 orders for its stations and has established distributorships in 28 states. Earlier this month, Coulomb said that it has established its first intracity network, in San Jose,Calif., with four on-street EV chargers.
The addition of a major German investment firm to Coulomb's financial backers may signal growing international interest in the company's technology, which places EV chargers in parking lots, gas stations and other public areas and enables users with plug-in hybrids or battery-electric vehicles to pay a flat monthly fee for access.
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