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NaaS Technology’s Acquisition of Charge Amps to Drive EV Charging Innovations and Energy Sustainability

Photo by CHUTTERSNAP on Unsplash

NaaS Technology Inc. (Nasdaq: NAAS) has announced its plans to acquire Swedish EV charging infrastructure supplier, Charge Amps AB, in a deal valued at US$66.4 million. NaaS Technology is a leading EV charging solution provider listed on Nasdaq since June 13, 2022. The acquisition aims to bring together the expertise of both companies to offer an expanded product portfolio and integrated charging and energy service solutions.

Charge Amps is known for its attractive Scandinavian designs, reliable all-weather performance, and use of recycled materials in its personal and home EV charging infrastructure products. With a market share of 22% in Europe and an international presence in 52 locations across 13 countries, the company has established itself as a trusted provider in the industry.

What sets Charge Amps apart is its commitment to sustainability. The company extensively sources sustainable and recycled materials for its products, aligning with NaaS Technology’s vision of promoting green energy. Charge Amps also brings years of product development expertise and holds several patents in Europe, the US, South Korea, and China.

Post-acquisition, Charge Amps will maintain its brand identity and local manufacturing while benefiting from NaaS Technology’s support and expanded product offering. The integration plan includes the launch of new products through Charge Amps’ distribution channels, aiming to strengthen the global presence of both companies and provide consumers with more sustainable and innovative EV charging solutions.

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