E.ON makes a strategic investment in Virta

E-mobility software company Virta together with its lead investor Helen Ltd. finalised a funding round with Europe’s leading energy company E.ON. The capital injection is accelerating Virta’s international growth and strengthens its position in the European market.

Earlier this year Virta and E.ON signed a global operational agreement to make thousands of intelligent E.ON charging stations available to electric vehicle users across Europe in ten countries. The cooperation creates one of the largest and densest charging networks in Europe, where the E.ON electric vehicle charging infrastructure is powered by the Virta platform.

“With our investment into Virta we underline our belief that Virta‘s platform and energetic management team are set up to be the digital backbone for an increasingly integrated energy and mobility world.”, says Andreas Pfeiffer, Global Domain Manager Emobility at E.ON.

Virta, founded in 2013 in Finland, has become the innovation leader of intelligent electric vehicle charging technologies and one of the top players of the industry in Europe. Today, over 200 EV charging networks from 19 countries are operating their charging services on Virta platform with over 30 different brands. In addition to Finnish headquarters, Virta has offices in Germany, France and Sweden.

“Virta is going through a period of strong growth as a company, and the focus of its’ operations has shifted from Finland to international activities. It is great to get E.ON on board in the development of the company,” says Helen’s President and CEO Pekka Manninen.

Electric vehicles are essential in the energy transformation: the electrification of transportation has a direct impact on the decarbonisation of electricity production. Renewable energy production increases the need for balancing power in the energy systems and electric vehicles are the most important new source of flexibility. Virta is a recognised innovator in this technology field.

“Our mission is to bring electric vehicles into people’s everyday lives and to energy systems. The capital investment and cooperation with E.ON, the Europe’s leading energy company, is advancing substantially our mission realisation and shift to electric mobility in Europe,” says Jussi Palola, CEO of Virta.

In addition to Helen and E.ON, the early investors of Virta include Finnish energy utilities: Lahti Energia Oy, Vantaan Energia Oy, Imatran Seudun Sähkö Oy, Tammisaaren Energia Oy, Kotka Energia Oy and Oy Herrfors Ab.

E.ON is an international, investor owned energy company based in Essen, Germany, and has around 43,000 employees. With a clear focus on three strong core businesses—Energy Networks, Customer Solutions, and Renewables—E.ON aims to become the partner of choice for energy and customer solutions.

Helen is a large Finnish energy company with headquarters in Helsinki, Finland. Helen's business consists primarily of the production of electricity, district heating and cooling, as well as energy distribution and sales. In addition, Helen offers a wide range of services for small-scale energy production and the customers' own energy use. Since 2009 Helen also offers electric vehicle charging points in Finland.

Virta is the forerunner in electric vehicle charging platform technologies. Over 200 customers with over 30 EV charging brands from 19 countries are currently operating their EV charging services on Virta platform. Virta's technology has received several awards. Most recently, in September 2018, the company received the Technology Innovation Award from Frost & Sullivan consulting.

For more information about this press release, contact:

Virta Ltd.
Jussi Palola, CEO
+358 50 4340132, jussi.palola@virta.global,  www.virta.global/

E.ON SE
Markus Nitschke
+49 201-184-4256, markus.nitschke@eon.com, www.eon.com  

Helen Oy
Pekka Manninen, President & CEO +358 9 6171
+358 9 6171, viestinta@helen.fi,  www.helen.fi/en/