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WAAT, a French pioneer in private (as opposed to public on-street) EV charging infrastructure, raised EUR 100 million from a DWS Group sustainable-investment fund as lead investor, with Bpifrance co-investing alongside it and existing shareholder RAISE Impact (an investor since 2022) rolling its stake. Gottengreen advised on the transaction. Bpifrance's investment director framed WAAT as positioned on "a strategic market for the energy transition," while DWS cited the underserved-but-strategic nature of electrifying apartment-building, social-housing and commercial-real-estate charging demand.
Proceeds are earmarked to scale WAAT's installed base toward 250,000 active charging points by 2030, expand beyond France into other European markets, and develop an AI-enabled energy-optimisation app (MyWAAT).
Severity is kept low (1): this is a single company's growth-capital round with Bpifrance as one of several co-investors (DWS is the lead), not a standalone state subsidy programme or trade-control measure. Filed for completeness of the French/European industrial-policy picture on EV-charging build-out, consistent with the register's existing treatment of other Bpifrance co-investments (ETIX data-center refinancing, Sizewell C loan guarantee).
institutional capital (here DWS, previously MUFG/Kommunalkredit/La Banque Postale on ETIX) in French/European infrastructure framed around strategic or sovereignty-adjacent themes — in this case electrification of residential and commercial real estate rather than digital or energy-generation infrastructure.
that underpins upstream demand for lithium-ion battery and grid materials, alongside the EU's public charging-network mandates.
DWS's lead-investor share) was not disclosed in public materials.
(unlike the ETIX deal, which combined loan and equity-adjacent financing) — sources describe it as a funding/equity raise.