Energy Giant bp Invests in German EV Charging Service Provider Service4Charger

bp ventures has invested €7.5 million in Germany's Service4Charger GmbH, a provider for the planning, installation, operation and maintenance of EV charging infrastructure. bp ventures is leading Service4Charger’s €10 million Series A funding round.

Service4Charger focuses on charging stations for electric cars throughout Germany - for various charging scenarios, such as charging in fleet depots, at public charging stations and at home.

The Berlin-based company has grown to a team of over 85 employees and is already represented in 25 cities - from Aachen to Berlin and from Hamburg to Munich.

Service4Charger and bp have also signed a multi-year commercial agreement to expand several thousand charging points within the next few years.

bp offers 22,000 EV charging points and aims to have more than 100,000 worldwide by 2030. 

bp ventures was set up more than 10 years ago as bp’s corporate venture capital arm.

Lucas Althammer, CEO of Service4Charger, says: “The new capital will enable Service4Charger to expand into additional markets and add more local operational staff and Service4Charger Mobile Heroes to our team across Germany. In this way, we are doing our part to expand the charging infrastructure for e-vehicles, which is critical to the transition to a lower-carbon European economy. We welcome the funding from, and collaboration with, bp and its German brand Aral as well as Energie360° as we work together to drive the electrification of mobility."

Gareth Burns, Vice President bp ventures, adds: “As bp pulse rolls out EV charging it is essential that we have the right skill sets and expertise to make charging installations an efficient process and to service our growing network of EV charge points. The investment into Service4Charger brings bp a collaboration that can enable rapid and reliable installation and servicing of EV charge points in Germany.”

bp ventures has invested more than $1 billion in seven regions, including 14 mobility investments.