Epyon raises €7M to scale up EV fast-charger business

http://www.greencarcongress.com/2010/11/epyon-20101101.html#more

1 November 2010

Epyon BV, a European supplier of intelligent charging solutions for electric vehicles (EVs), raised €7 million (US$9.7 million) in new equity funding from five investors for its ongoing effort to scale up operations across Europe as the market for EV fast chargers begins to accelerate.
Epyon welcomes three new shareholders: LiteOn Technology Corp. from Taiwan and Dutch investors BOM and Breesaap, the investment fund of former Dutch Prime Minister Ruud Lubbers. The existing investors, SET Venture Partners and Chrysalix, also participated in the financing round and will remain Epyon’s largest shareholders. After closing, all five investors will be represented on Epyon's supervisory board.
Parallel to the financing agreement, Epyon and LiteOn also agreed on a business cooperation. LiteOn will support Epyon’s market development in parts of Greater China, Asia, Europe and the US, based on its strength in volume production, marketing and logistics and its regional connections. Epyon will continue to produce lower-volume and modular products through its existing partnerships in Europe.
Epyon, founded in 2005, earlier this year launched Europe’s first commercially operated fast-charging station and recently signed several agreements to deploy its highly scalable multi-post solutions.