Hamburg, Germany-headquartered XCharge, founded in 2015, provides integrated EV charging solutions, focusing on Innovative New Energy Technologies and Sustainable Development. The company offers comprehensive EV charging solutions which primarily include the DC fast chargers, the advanced battery-integrated DC fast chargers, as well as its accompanying services, assisting the rapid development of the new energy industry.
XCharge announced the pricing of its initial public offering of 3,333,335 American Depositary Shares (ADSs), at US$6.2 per ADS, for a total offering size of approximately US$20.7m.
XCharge has developed one of the world's first two-way energy storage charging piles – the Net Zero Series DC high-power charging energy storage equipment, which has been commercialized in Europe, North America and Asia, and customers are from EV manufacturers, global energy companies and charging pile operators. According to Frost & Sullivan, XCharge is one of Europe's leading suppliers of high-power charging solutions in terms of sales volume in 2023.
Aatish Patel, president and co-founder of XCharge North America, said: "Our mission is far more than building EV charging piles, but to enable everyone to enjoy the convenient, fair and practical sustainable energy. Now for XCharge, IPO is a milestone, and in the future, XCharge will continue to provide global optimization solutions based on the infrastructure and to develop products for specific markets to provide net zero and affordable solutions worldwide, so that everyone can participate in and jointly build a more resilient and sustainable future!"
Dr. Bo Bai, chairman and founder of Asia Green Fund, said: "Congratulations to XCharge's IPO. As a shareholder of XCharge, Asia Green Fund is very honored to have participated in and witnessed its growth. We share the same vision of low carbon and sustainable development. The follow-up will be more anticipated that the company expand its influence globally and highlight its greater value on promoting Net Zero future.
