Coulomb Technologies Secures $3.75 Million in Series A Funding led by Estag Capital AG
Investment Furthers Electric Vehicle Infrastructure Equipment and Services Company Mission to Fuel the Electric Transportation Industry
CAMPBELL, Calif., – January 26, 2009 – Coulomb Technologies today announced it has secured $3.75 million in Series A funding led by Estag Capital AG [Berlin, Germany]. Coulomb has developed the ChargePoint™ Network, the most advanced networked vehicle charging infrastructure for plug-in vehicles. The funding will enable Coulomb to continue their aggressive rollout of their smart networked charging stations as a part of the ChargePoint Network. Additionally, the funding will further enhance engineering, marketing and business development as major automobile manufacturers are set to deliver electric vehicles in the coming months.
"Estag has a proven track record of investing in breakthrough clean energy technology," said Richard Lowenthal CEO of Coulomb Technologies. "We consider them not only an important investor but also our partner in delivering networked charging infrastructure worldwide. This investment will allow Coulomb to continue to deliver electric fueling products that this industry needs to charge ahead."
"Coulomb has developed smart infrastructure equipment and network services for plug-in vehicles that provide convenient, affordable, and safe access to public charging," said Dr. Karoly Horvath CEO of Estag Capital AG. "Coulomb is leading the way with essential technology that is rapidly being adopted by cities and organizations worldwide. We are pleased to have the opportunity to work with Coulomb to make this reality."
Coulomb Technologies offers a family of products and services that deliver a smart charging infrastructure for plug-in vehicles. Coulomb's ChargePoint Network addresses needs of drivers, utilities, governments, and parking space owners. Consumers subscribe to the ChargePoint Network and receive a ChargePoint Smart Card that allows them to charge their car at any Smartlet™ Charging Station worldwide. To locate available charging stations, visit www.mychargepoint.net and click "Find Stations".
Estag Capital AG (www.estag.de) is a private investment company from Berlin. It invests venture capital in young, promising companies and ideas, particularly in the sector of renewable energy / clean tech and gaming. Young entrepreneurs and start-ups are supported to develop promising business models by Estag´s commitment in seed or early-stage financing and its network of experts. Estag Capital AG is investor, financial partner and advisor in all entrepreneurial activities.
About Coulomb Technologies, Inc.
Coulomb Technologies, headquartered in Campbell, Calif., offers a family of products and services that provide a plug-in vehicle charging infrastructure, which includes Smartlet Networked Charging Stations ranging in capability from 120V 15A to 240V 80A AC charging to 120kW DC charging. Coulomb applies networking technology to the challenge of charging electric vehicles and plug-in hybrids in order to fuel the electric transportation industry. Coulomb's ChargePoint Network addresses the needs of drivers, utilities, governments, and parking space owners.