FLO secures $136 million in Series E funding to accelerate EV charging solutions and infrastructure expansion

FLO announced that the company wrapped up their latest investment round during their Series E equity financing round. During this series, FLO raised $136 million of long-term capital, led by Export Development Canada.

The investment will help FLO roll out several new products, including the NEVI, the FLO Ultra fast charger, which is Buy America-Compliant, and the next generation of the FLO Home residential charger. In addition, FLO confirmed they will also use part of the financing to fund the development of new charging solutions and support continued network expansions.

FLO President and CEO Louis Tremblay had this to say:

“This financing will help FLO continue our work to deploy reliable, critically needed EV charging infrastructure across North America. I am grateful to our financing partners who believe in FLO and our mission to help overcome climate change by engineering and operating the most reliable EV charging network and by delivering the best possible experience for EV drivers.”

Other than Export Development Canada, other government entities and private investors in the Series E round included Caisse de dépôt et placement du Québec, Investissement Québec, as an agent of the Québec government, Business Development Bank of Canada, Energy Impact Partners and MacKinnon, Bennett & Company Inc.

Are you buying a Tesla? If you enjoy our content and we helped in your decision, use our referral link to get C$1,300/US$1,000 off your purchase.
Previous Article

Tesla Master Plan Part 4 Coming Soon, Says Elon Musk

Next Article

Fisker files for bankruptcy after months of teetering on the brink

You might be interested in …

Lion Electric School Bus

Student Transportation of Canada places conditional order for 1,000 electric school buses from Quebec’s Lion Electric

The Lion Electric Company announced this week it has received a conditional order for 1,000 electric school buses from Student Transportation Canada (STC). If the order goes through, it would be the single largest order […]