More charging stations and their sustainable production. Slovak start-up AgeVolt received an important investment
BRATISLAVA, 05/10/2022 Slovak start-up AgeVolt is preparing a program to certify the overall sustainability of its charging stations. The goal is to achieve carbon neutrality in the production of own charging stations, their operation, as well as the charging of electric cars itself. To implement the project, he received an investment from the CB ESPRI Impact One fund.
AgeVolt was founded in 2019 and since then has been dedicated to the issue of e-mobility, energy management of buildings and solutions to make energy consumption more efficient. AgeVolt Group manufactures its own charging stations and builds a complex ecosystem in the field of electromobility for open cooperation. The mission of AgeVolt is to contribute with its activity to the fulfillment of the UN Sustainable Development Goals in the field of energy efficiency and climate measures.
AgeVolt genuinely cares about a more sustainable future, which is why it also cares about how much CO2 it produces through its production. He is currently working on the calculation in cooperation with the academic sector, so far he estimates that the production of one charger will produce approximately 100 kg of CO2.
"We have been intensively looking for ways to reduce this carbon footprint from our own production. We came up with the idea of planting trees. One tree absorbs 10 to 20 kg of CO2 per year. For an average lifetime, we counted on 10 years, so it can absorb approximately 100 kg of CO2. We developed the project and received an investment of EUR 500,000 for it from the fund managed by CB ESPRI, behind which is the Crowdberry investment platform and the named company," explains Ján Zuštiak, CEO and founder of AgeVolt. The fund manages capital from Slovak Investment Holding within the Operational Program Human Resources and is intended to support businesses and non-profit organizations with a positive social impact. "Thanks to this investment, we will be able to significantly speed up the production of our charging systems and at the same time ensure the overall sustainability of not only the production itself, but also the operation of charging stations and charging by planting trees. Work related to the cleaning of places intended for planting trees in the Tatras area is currently underway. We are committed to using half of the potential profit in the coming years to develop a business with a positive social impact. We are already employing people disadvantaged on the labor market, who perform cleaning work and will be involved in planting trees in the spring," continues Zuštiak.
But AgeVolt goes even further. For the packaging of its chargers, it uses 100% biodegradable and compostable Slovak bioplastic Nonoilen, which is the only bioplastic in the world that does not contain synthetic polymers from petroleum.
About AgeVolt j. with. a.
AgeVolt j. with. a. is the parent company of the AgeVolt group and represents the idea of AgeVolt, which was created in 2019, which is to help society break down prejudices and facilitate the transition to electromobility. It brings an intelligent, efficient and affordable charging system, or a complex digital ecosystem, which currently consists of chargers, energy management, a digital platform and a mobile application. He believes that this is the way forward to the mass adoption and smooth operation of electromobility. These activities brought AgeVolt j. with. a. in 2021 an investment of 1.2 mil. EUR from investors IPM and VFF to realize its intention and now, thanks to the investment from the CB ESPRI Impact One fund, AgeVolt j. with. a. also fulfill its intention in the field of sustainability.
CB ESPRI, p. r. about. is a joint venture of research and consultancy ESPRI, p. r. about. and the investment platform Crowdberry. It manages the CB ESPRI Impact One fund to support businesses and non-profit organizations with a positive social impact. The fund will invest capital worth up to 10.5 million by the end of 2023. EUR from funds provided by Slovak Investment Holding from the Operational Program Human Resources. www.cbespri.sk
InoBat is a Slovak research, development and energy solutions company founded in 2019, which focuses on the complete life cycle and touches every part of the battery value chain, including research and development, production, recycling, energy storage and charging. Its flagship project, InoBat Auto, aspires to become Europe's leading supplier of EV batteries thanks to its superior R&D capabilities and ability to create high-volume, tailor-made EV batteries with faster development times than is common in the industry. www.inobat.eu
IPM Group is an asset management company. It specializes in investing in the InfraTech asset class, which provides pioneering technologies with the infrastructure needed to ensure long-term growth. IPM focuses on investing in companies that are capable of solving some of the world's most pressing problems in the energy, mobility and digital infrastructure sectors. www.ipmllp.com
Venture to Future Fund (VFF) is the result of a joint initiative of the European Investment Bank (EIB) and the Ministry of Finance of the SR www.vff.sk