JXTG Nippon Oil & Energy invest in EV platform Virta

JXTG Nippon Oil & Energy Corporation (“JXTG”) has completed an investment in Virta Ltd - a global leader of electric vehicle charging platform technologies, and signed a memorandum of understanding for cooperation.

The capital injection accelerates both companies’ growth in the e-mobility sector and strengthens their positions in providing energy for mobility, while accelerating the global integration of the transportation and energy sectors.

JXTG is considering EV-related services in the activities aimed at the establishment of new mobility services, leveraging the nationwide service-station network and the “ENEOS” brand. Now, JXTG is seeing Europe´s leading EV charging technology company Virta as a technology partner. Virta is the global leader in electric vehicle charging platform technologies and in combining the renewable energy system with electric mobility.

“Companies lead the transition to increased use of electric vehicles, but the availability of charging infrastructure is crucial. Virta enables the value proposition of electric vehicle charging services in our wide service network. The cloud-based platform allows for instance different payment systems and makes EV charging possible for commercial properties, such as petrol stations and as well in private locations.” says Dr. Keisuke Nakayama, manager of new business promotion group.

“JXTG is an influential partner for Virta. This investment triggers the launch of Virta operations in Asian markets with Japan as a spearhead and hence accelerates Virta’s transition from European to a global digital platform for e-Mobility” continues Jussi Palola, CEO of Virta Ltd.

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JXTG Nippon Oil & Energy

JXTG is engaged in a broad range of energy businesses, which include petroleum products, for which the company holds the largest market share in Japan, as well as petrochemicals, electricity, lubricants, coal and hydrogen. The company is taking great strides toward becoming one of the most prominent comprehensive energy companies in Asia through the execution of a thorough business transformation that will enable the company to meet the challenges of a rapidly changing business environment. https://www.noe.jxtg-group.co.jp/english/

ENEOS

ENEOS is a portmanteau created by combining the words energy and neos (meaning "new" in Greek). The brand mark is an expression of "energy" in a symbolic form. The central sphere expresses "reliability" and "persistence," while the outward spiral expresses "creativity" and "innovation."

Virta

Virta is the forerunner in electric vehicle charging platform technologies. Over 300 customers with over 50 EV charging brands from 28 countries are currently operating their EV charging services on the Virta platform. The company has been ranked as the fastest-growing electric vehicle charging platform in Europe by the Financial Times on their 2020 FT 1000 list. Virta's technology has received several awards. The company has been recognised as the best Energy brand at Charge Awards 2018 and received the Technology Innovation Award from Frost & Sullivan consulting. www.virta.global/

Further Information:

JXTG Nippon Oil & Energy Corporation

Keisuke Nakayama, Manager

+81(0)362574283

Nakayama.keisuke@jxtg.com

https://www.noe.jxtg-group.co.jp/english/

Virta Ltd.

Jussi Palola, CEO

+358 504340132

jussi.palola@virta.global

www.virta.global