FreeWire Technologies manufactures battery-integrated ultrafast EV chargers (Boost Charger™) and develops an accompanying energy management platform. Its Boost Charger packages charging infrastructure, grid infrastructure, and energy storage into a compact solution that enables high-power charging without costly utility upgrades. The company is evolving its software — AMP Pro expected in 2022 providing distributed energy management services, followed by Charging as a Service in 2023 — aiming to create multiple recurring, high-margin revenue streams and ultimately a turnkey retail energy service. FreeWire has installed nearly 5 MWh of energy storage capacity to date, has over 30 MWh booked, and aims to deploy over 5,000 battery-integrated ultrafast chargers by 2025. It recently broke ground on a 66,000-square-foot R&D and manufacturing facility in Newark, California, and is increasing manufacturing capacity to serve markets including the UK, Canada, Japan, and Australia/New Zealand. The company will use new capital to accelerate commercial deployments, expand its talent pool, and invest in R&D to advance its product roadmap and energy management services. FreeWire Technologies, based in San Leandro, Calif., builds battery-integrated EV charging and turnkey power solutions centered on its Boost Charger. The Boost Charger pairs an integrated 160 kWh lithium-ion battery with low-voltage grid connections to enable high-power DC fast charging where grid upgrades are cost-prohibitive. The company has deployed over 200 battery-integrated chargers with Fortune 100 companies, fleets, retail locations, and gas stations, and intends to deploy more than 2,500 ultrafast charging stations by 2025. FreeWire is described in the article as the global market leader in battery-integrated EV charging. The company will use new capital to accelerate international expansion of the Boost Charger and to expand production capacity to meet unprecedented customer demand. The round brings the six-year-old company’s total venture funding to nearly $100 million. FreeWire Technologies is a San Leandro, Calif.-based company that develops battery-integrated ultrafast electric vehicle charging and turnkey power solutions for grid-edge electrification. Its core products are ultrafast charging systems designed to overcome grid inefficiencies while mitigating infrastructure costs and impact on the grid. In late 2019 it launched the Boost Charger, a battery-integrated ultrafast EV charger deployable with existing infrastructure at up to 40% lower installation cost versus other high-power chargers. The Boost Charger was expected to hit the market in the second quarter of this year. FreeWire positions its scalable clean power and services to enable new applications and business models for customers previously dependent on fossil fuels. The company is focused on commercializing these technologies and scaling deployment worldwide through strategic partnerships. FreeWire Technologies develops infrastructure-light ultrafast EV chargers and mobile on-site power systems designed to overcome constraints of traditional grid infrastructure. Its product lines include the Mobi Charger mobile EV chargers and the Mobi Gen clean, quiet on-site power units that can substitute or supplement diesel generators. The company positions its solutions to enable rapid, cost-efficient power deployment without costly construction or hardware installation. FreeWire says its technologies support new applications and business models at the grid edge and aim to meet growing demand for flexible electrification. The company has engaged in pilots and strategic partnerships tied to vehicle electrification and retail deployment, and will use new capital to commercialize products and expand its operations and sales teams. FreeWire is based in San Leandro, California.

Total raised

$215M

Funding rounds

6

Latest round

Convertible Note

Latest activity

Apr 2022