innogy acquires BTCPower to Strengthen U.S. Market Presence
innogy e-mobility US LLC, a wholly owned subsidiary of innogy SE announced today the acquisition of Broadband TelCom Power, Inc. (BTCPower). The transaction will provide innogy with a full dc product portfolio for the North American market and access to increased production capabilities and know-how to ensure prompt delivery times and excellent quality for innogy’s turn-key solutions.
As a result of the transaction, BTCPower will be positioned to leverage both innogy’s financial strength and know how to enhance its growth and competitiveness across all EV hardware markets. BTCPower will continue to operate as an independent company, with the current, experienced management team staying in place, overseeing operations and manufacturing both at the company headquarters in Santa Ana, CA and the newly expanded manufacturing facility in Cebu, Philippines.
“By investing in BTCPower, we are expanding our engagement in the US market. The US eMobility market is currently booming, and is one of the most attractive markets for eMobility worldwide,” stated Martin Herrmann, COO Retail innogy SE.
“Pioneering states like California and others are creating jobs and fostering investment by supporting strategic, long-term policies promoting emission-free vehicles. With the addition of BTCPower, innogy is well prepared for this growth both in the US and globally,” added Herrmann.
innogy has already successfully collaborated with BTCPower on multiple projects and had excellent experiences with the team and the products. Their charging stations integrated seamlessly into innogy’s backend system and the BTC team proofed to be extremely knowledgeable in all aspects of US EV charging infrastructure.
Elke Temme, senior vice president Electric Mobility at Innogy stated, “We are extremely happy to have BTCPower join the innogy family. Frank Meza, BTCPower president and CEO, and his team have done a tremendous job creating one of the leading EV hardware companies in the US.”
Simon Loeffler, Vice President International Markets e-mobility innogy SE declared: "innogy is excited to be able to support the growth efforts of BTCPower and looks forward to working together to advance the electrification of the global transportation system.”
“It is an exciting time for us to become a part of the innogy team given the current developments within our industry,” agreed Frank Meza. “As more electrified transportation options become available, we will now be even better situated to charge them all.”