May 22nd, 2023

Swiss Life Asset Managers acquires a majority stake in Powy

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A fund managed by Swiss Life Asset Managers has ac-quired a majority stake in Powy. As the anchor financial investor, the fund managed by Swiss Life Asset Managers' primary equity investment of €84 million will support Powy’s growth ambitions in further ex-panding its EV charging footprint across Europe.
The founders and shareholders Federico Fea and An-drea Brentan will continue to manage Powy as CEO and Chairman.

Headquartered in Turin, Italy, Powy is a leading inde-pendent developer, owner and operator of a portfolio of quick, fast and ultra-fast EV charging stations. Powy is currently operating over 400 charging points in around 150 different premium locations across Italy and Spain, where the company secures long-term rights for the ownership, construction and operation of EV public charging infrastructure. Since the start of its commercial operations in early 2021, Powy’s strategy has proven to be particularly successful thanks to its speed-to-market operations and its ability to identify and secure premi-um charging locations. Through its diversified location portfolio, Powy is able to target both “destination charging” and “charge-on-the-go”, deploying the appropriate type of hardware to address these different use cases.

In recent years, EV sales have grown significantly, sup-ported by favourable regulation, strong decarbonisa-tion objectives, technological advancement and cost improvements. As a result, EV charging infrastructure is experiencing material growth with increasing infrastruc-ture densification and utilisation. Both Spain and Italy are highly motorised countries with relatively low access to private EV charging infrastructure. EV adoption in both markets is rapidly catching up to other European coun-tries, creating a good opportunity for Powy to imple-ment its growth plan.

"We are delighted to have gained the trust of Powy’s founders and shareholders and are excited to support the company in its next phase. Europe is experiencing a strong acceleration in the electrification of both private transportation and commercial fleets, driving increased demand for EV charging services in the years to come. We are excited to back the management team and support them in supercharging Powy’s growth in their core markets and beyond" comments Gianfranco Saladino, Head Value-Add Infrastructure at Swiss Life Asset Managers.

"Powy has proven to be uniquely positioned to rapidly develop its recharge network in premium locations, and we are thrilled to now be able to further accelerate our development together with a partner of excellence like Swiss Life Asset Managers. In addition to the financial resources to fuel our ambitious growth plans in Europe, Swiss Life Asset Managers brings to Powy its extensive experience in developing high-growth companies, its proven ability to support the implementation of ESG practices, and a large investment portfolio full of valuable potential synergies," says Federico Fea, co-founder and CEO of Powy.

Press Contacts Powy

Press Contacts Swiss Life Asset Managers
+41 43 547 66 88

About Powy

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Powy, formerly known as TheF Charging, is a leading independent developer, owner and operator of EV charging stations, headquartered in Turin, Italy, that commenced full commercial operations in 2021.
Powy’s business model is to secure long-term rights for the supply of EV services in public locations. Powy’s net-work spans the full spectrum of charging solutions (from quick to fast to high power charging) located across a variety of highly strategic “destination charging” and “charge-on-the-go” locations.

About Swiss Life Asset Managers Infrastructure Equity

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Established in 2011, the Swiss Life Asset Managers Infrastructure Equity manages over EUR 10.2bn in capital for its clients and partners. The team consists of more than 50 investment specialists, with an average of 20 years indus-try experience across the senior level members. It has made over 70 infrastructure investments, across 12 funds, in both direct and fund opportunities across the Energy, Communications, Transportation, Regulated Utilities, Social Infrastructure and Renewable Energy sectors.