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Kempower is new EV fast charging partner to Vattenfall InCharge

(Kempower Oyj, Company Release, 21.12.2021 at 9:00 EET) – In the offering circular related to the IPO on December 1, 2021, Kempower announced that it had signed a letter of intent worth approximately EUR 5 million in November 2021 with a major European electricity producer and distributor. Negotiations have now been completed and Vattenfall, one of Europe’s leading energy companies, has chosen Kempower as one of its new electric vehicles (EV) fast charging partners for Vattenfall’s InCharge charging services.

InCharge is an initiative by Vattenfall and part of a commitment to sustainable transport. Vattenfall InCharge currently operates 28 000 charging points across Northern Europe. The investment in Kempower’s EV fast charging solutions aims to secure the growth of electromobility for Vattenfall. The order value of the first stage deployment is over EUR 5 million.

Electrical driving is the future, and we have since over a decade been building charging infrastructure in close collaboration with municipalities, cities and companies. To reach the goals for the future it is important to grow together with partners.

Tomas Björnsson, Head of E-mobility at Vattenfall

We are extremely happy for this new cooperation with Vattenfall and InCharge charging services. The opportunity to offer fast charging services for electric car drivers in Sweden is a great continuation for the recent electric bus depot projects. In 2021, Kempower provided fast charging solutions for electric bus depots in e.g., Jönköping and Malmö, the latter one being the biggest electric bus depot charging hub in the Nordics.

Tomi Ristimäki, CEO of Kempower

Further enquiries:
Tomi Ristimäki, CEO, Kempower
Tel. +358 29 0021900

Kempower, investor relations:
Jukka Kainulainen, CFO, Kempower
Tel. +358 29 0021900

Kempower, media relations:
Paula Savonen, Director, Communications, Kempower
Tel. +358 29 0021900

About Vattenfall:
Vattenfall is a leading European energy company, which for more than 100 years has electrified industries, supplied energy to people’s homes and modernised our way of living through innovation and cooperation. We now want to make fossil-free living possible within one generation. That’s why we are driving the transition to a sustainable energy system through initiatives in renewable production and climate smart energy solutions for our customers. We employ approximately 20,000 people and have operations mainly in Sweden, Germany, the Netherlands, Denmark and the UK. Vattenfall is owned by the Swedish state. For more information:

About Kempower:
Kempower designs and manufactures DC fast charging solutions for electric vehicles and machines. We’re a team of electric vehicle enthusiasts with a deep understanding of the charging market and a hands-on mentality. Our product development and production are rooted in Finland, with a majority of our materials and components sourced locally. We focus on all areas of transportation, from personal cars and commercial vehicles to mining equipment, boats and motorsports. With Kemppi Group’s 70 years’ experience in perfecting DC power supplies, we set the bar high in engineering and user-experience design. Kempower is listed in the Nasdaq First North Growth Market Finland.