Evnex gets investment to fuel expansion

Kiwi EV smart charger manufacturer and software developer Evnex is set to expand across Australia and accelerate product innovation thanks to a strategic investment.

The Christchurch-based company has secured funding from Australian private equity firm Adamantem Capital’s Environmental Opportunities Fund, which partners with high-growth organisations that deliver positive environmental impacts.

Evnex founder and chief executive Ed Harvey says the investment will unleash growth at a pivotal time as EV sales increase.

“This investment will allow us to expand our footprint across Australia, increase manufacturing efficiencies, and drive innovation through new product development,” he says.

“We’re marking a decade in business this year and we’re really proud of the reputation we’ve built as we grow New Zealand’s standing as a leading developer of smart charging technology.

“Our mission is to deliver the world’s best home EV charging experience, with the lightest impact on Earth and we’re now in a stronger position to do exactly that.”

Evnex has installed more than 6000 home and business chargers across New Zealand and Australia and forecasts an additional 7000 units to be sold over the next year across both countries.

The company is the preferred charging partner for brands including Volkswagen, Volvo, Skoda, Cupra, Subaru, and LDV in New Zealand. It also has a partnership with Polestar and Z Energy.

“As our grid is decarbonised with increasing amounts of variable renewable generation, smart technologies that can match demand with times when generation is plentiful become increasingly important,” says Harvey, noting recent power shortage warnings across New Zealand show just how vital Evnex’s technology is.

“Peak demand usage in New Zealand and Australia is growing as more and more households move from gas to electric and purchase electric vehicles,” says Harvey.

“Our technology is able to respond in real-time, shifting charging to off-peak times, this helps to avoid stress on the network and also reduces the need for fossil fuels to be used in the energy generation process.”

Adamantem Capital managing director Rajiv Viswanathan says the company is delighted to be partnering with Evnex to support rapid EV adoption through cutting-edge smart charging solutions.

Caption – Evnex chief financial officer Wendy Schmidt with Ed Harvey.