Evnex to boost Australia operations with new investment

New Zealand-based EV smart charger manufacturer and software developer Evnex is set to significantly expand its operations in Australia and further enhance its product offerings, following a strategic investment by Australian private equity firm Adamantem Capital's Environmental Opportunities Fund.

The Christchurch company, founded by Ed Harvey, has become recognised for its advanced smart charging technology, which has been installed in over 6,000 homes and businesses across New Zealand and Australia. This new investment is anticipated to facilitate the sale of an additional 7,000 units over the next year, spanning both countries.

Commenting on the investment, Ed Harvey, the CEO and founder of Evnex, expressed his enthusiasm, stating, "This investment will allow us to expand our footprint across Australia, increase manufacturing efficiencies, and drive innovation through new product development. 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."

Adamantem Capital's Environmental Opportunities Fund is known for partnering with high-growth organisations that aim to deliver positive environmental impacts. Rajiv Viswanathan, Managing Director at Adamantem Capital, remarked on the partnership, saying, "We are delighted to be partnering with Ed Harvey and the Evnex team to support the rapid adoption of electric vehicles through cutting-edge smart charging solutions."

Evnex's smart chargers, which are proudly New Zealand-made with locally-sourced components, are designed to help the electrical grid adapt to the increasing demand for electric vehicles. This comes at a time when both New Zealand and Australia are seeing a shift in household energy usage from gas to electricity, coupled with a rise in electric vehicle ownership.

Harvey highlighted the importance of their technology in light of recent power shortage warnings across New Zealand. He noted, "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."

Partnerships with well-known brands such as Volkswagen, Volvo, Skoda, Cupra, Subaru, and LDV in New Zealand, in addition to a collaboration with Polestar and Z Energy, have solidified Evnex's reputation within the industry. The company's smart technologies are increasingly pivotal as grids decarbonise with more variable renewable energy sources becoming prevalent.

Evnex remains committed to its mission of providing the world's best home EV charging experience with the least environmental impact. The new funding will enable further advancements in their smart charging solutions, reinforcing the company's dedication to sustainable transportation.