Evnex $10m raise

Christchurch-based EV smart charger manufacturer and installer Evnex is raising $10 million for the development of activity across New Zealand and Australia.

“The plan is to use the funding to accelerate our growth in the Australian market, and new technology development that includes possible bi-directional capability,” says Evnex chief executive Ed Harvey.

“We are focusing on climate-focused VCs, (venture capitalists) particularly in Australia, and hope to close on the target by the end of Q4 or early Q1.”

Evnex has sold 4000 chargers across New Zealand and Australia and is forecasting a further 10,000 to be sold in the next calendar year across both countries.

Polestar is Evnex’s first major auto partnership in Australia.

Harvey says that’s a great result after the team was in the market for only six months.

“Polestar was particularly drawn to Evnex due to our shared commitment to our sustainability journey – we use bio-circular plastic material in our charging station enclosures and this aligned well with Polestar’s own efforts to promote circularity.”

Through the partnership, Envex provides a national installation service and support system for Polestar customers across Australia who have the option to choose an Evnex charger on the website as part of their vehicle configuration.

Polestar is also giving away an Evnex charger with select models – in Australia only.

Alongside the Polestar partnership, Evnex is listed as the preferred charging partner in New Zealand for Volkswagen, Volvo, Skoda, Cupra, Subaru, and LDV.

Evnex has also recently partnered with Z Energy to provide a deal offering a standard install for $2195 which can be paid off over 24 months interest-free and provides free charging from 3am-6am.

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