Elmtronics Ltd.
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Elmtronics Ltd. - overview
Established
2014
Location
-, -, UK
Primary Industry
Automobiles, Other Vehicles & Parts
About
Elmtronics Ltd. is a UK-based provider of electric vehicle (EV) charging solutions, focusing on innovative technologies for commercial, municipal, and residential clients to facilitate the transition towards sustainable transportation. Founded in 2014 in Durham, UK, Elmtronics Ltd. specializes in the development and installation of electric vehicle charging infrastructure.
The company has undergone a strategic shift towards enhancing its EV charging network since its acquisition by Statkraft AS in January 2022, which aimed to bolster its presence in fleet and workplace markets. The firm has successfully completed two funding rounds, with the most recent being a Seed round in January 2022, raising GBP 1. 500 mn led by Mercia Asset Management and including Ingenious Ventures. Elmtronics has a current valuation of GBP 6.
412 mn. Elmtronics specializes in providing advanced electric vehicle (EV) charging solutions designed for a diverse clientele, including businesses, municipalities, and individual consumers. The company offers a range of electric vehicle charging stations equipped with smart technology, enabling efficient energy management and user-friendly interfaces. Their products are designed to meet the growing demand for sustainable transportation options, facilitating the transition to electric mobility with reliable and accessible charging infrastructures primarily in the UK and Europe, targeting commercial fleets, local governments, and residential users.
In the most recent fiscal year of 2023, Elmtronics reported a revenue of GBP 12,128,954. 70, despite an EBITDA of GBP -3,431,820. 50, indicating the company's ongoing investment in growth and infrastructure development. Elmtronics plans to expand its product offerings by designing new electric vehicle charging stations with even more advanced smart technology, targeting a launch in late 2023.
The company is also looking to penetrate new geographic markets across Europe, particularly focusing on Germany and France by 2024. The recent Seed funding round of GBP 1. 500 mn will support these initiatives, enhancing product development and market expansion efforts.
Primary Industry
Automobiles, Other Vehicles & Parts
Sub Industries
Automobiles, Other Vehicles & Parts
Website
www.elmtronics.co.uk
Verticals
Electric & Hybrid Vehicles
Company Stage
Acquired
Total Amount Raised
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