FRANKFURT, Germany, Oct. 30, 2024 – Following the Memorandum of Understanding signed in May 2024, StarCharge, a global pioneer in EV charging and energy storage technology, and Schneider Electric, a global leader in energy management and automation, have signed a joint venture agreement aimed at driving innovation in the European electric vehicle (EV) and energy storage markets.

The joint venture will create a leading European prosumer company delivering EV charging infrastructure, photovoltaic inverters, AC and DC charger, and storage systems to the European market. This strategic partnership will combine the complementary strengths of StarCharge, with its recognized EV charging and energy storage technologies and production capability, and Schneider Electric, with its deep knowledge of the European market, extensive footprint and leading energy management solution technologies.

BNP Paribas are serving as the sole financial advisor to StarCharge. The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals.