Coulumb Get $47.5M to Grow EV Charging Station Business

Published on 07 May 2012 by in Blog, Clean Tech, Financing

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According to Gigaom today, Coulomb closed a Series D financing of $47.5M bringing in heavyweight investors such as Kleiner Perkins and Toyota Tsusdo (Toyota’s trading corporation). The drive to build out electric vehicle charging infrastructure is important to give consumers confidence that they will be able to easily recharge their EV’ so they will buy them.  Our view is that while this infrastructure is being deployed, the auto industry will be releasing new plug-in EV’s (e.g., Fisker’s Karma is shipping now) to mitigate the sparse charging infrastructure and range anxiety issue in addition to more battery-only EV’s (e.g., Nissan Leaf is shipping now). We are at an important turning point in this market where we’ll see more consumer choices for EV’s. Choice will help drive adoption which will drive volume which will drive cost reduction which will drive broader adoption. It can’t happen soon enough for the auto industry to compete on the world stage.


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