Danish EV charging platform Monta expands to the U.S. to support global growth of charging infrastructure market
- Company also announces partnership with Emobi, a leading EV charging ecosystem in North America, to bring its charging software to EV drivers in the U.S.
- New headquarters in Miami marks Monta's entrance into its first market outside of Europe
MIAMI, Oct. 29, 2024 /PRNewswire/ -- Monta, the Copenhagen-based operating platform powering the EV charging ecosystem, announced today the opening of its U.S. headquarters in Miami. The company's U.S. expansion plan includes connecting 25,000 commercial charge points to its platform by the end of 2025 and 1 million charge points by the end of 2030. Monta will welcome 30 employees, including co-founder and CEO Casper Rasmussen, to its U.S. headquarters in Miami by the end of 2025.
Despite economic and political headwinds, the EV market in the U.S. continues to grow rapidly. BCG estimates that nearly half of all new car sales in the U.S. will be electric by 2030[1], with 38% of Americans saying their next vehicle purchase will be an EV[2]. Consumer demand is also supported by the necessary investment in charging infrastructure, with the goal of half a million public chargers in place in the next five years[3].
Yet significant challenges remain within the charging experience in the U.S., with a quarter of all charges still unsuccessful, and an additional 12% successful but with reduced power, according to ChargeHub[4]. This is due to various issues ranging from user interface problems, deficient software glitches, and complex payment processes on several mobile apps and credit card readers. Software tools are needed to enable a smoother, better-optimized charging experience and unlock EV adoption at scale in the U.S.
"As EV adoption picks up pace in the United States, industry players will need a platform like ours to take their business to the next level," said Casper Rasmussen, CEO and co-founder of Monta. "Across Europe, charging operators have been using Monta to scale up and deliver an improved experience for EV drivers for the last four years. Our customers and partners, many of whom already operate in the U.S. or have plans to expand here, have been asking us to bring Monta's solution across the Atlantic to continue fueling growth across the EV charging infrastructure ecosystem. We are thrilled to announce our U.S. expansion and thankful to our partners and investors for their support in our mission of enabling e-mobility and electrification across the globe."
Since its founding in 2020, Monta has become Europe's de facto platform for simplifying and streamlining the deployment, use, and management of EV charging infrastructure for businesses and operators. Monta's solution also assists hardware manufacturers in optimizing their products by enabling them to benchmark charge point brands, provide insights into usage and performance, and accelerate troubleshooting and maintenance time. Following its $87 million (€80M) round of funding in January 2024, the company seeks to build off its success in Europe to bring its EV charging software to market in the U.S.
With two million monthly charging sessions and 165,000 commercial charge points on its platform, Monta has experience working with global partners like Siemens, hardware manufacturers like Rolec, and charge point operators like Uno-X or Eliso, among others. With its expansion into the U.S., Monta also announced a partnership with Emobi, the largest EV charging ecosystem in North America, to instantly bring its software to more than 118,000 charge points across the US and Canada.
"Monta's expansion into North America is a critical step toward building a more accessible and comprehensive charging infrastructure," said Lin Sun Fa, CEO of Emobi. "At Emobi, we share Monta's vision for a future where sustainable transportation is within reach for everyone, and we are proud that our technology is helping power this expansion. By supporting Monta's growth, we're giving their customers instant access to charging networks and e-mobility partners across the U.S., accelerating the adoption of electric vehicles and making it a more seamless transition for all stakeholders."
Juan Muldoon, a partner at Energize Capital and member of Monta's board of directors, explains:
"The global EV charging market is expected to reach $217 billion in the next five years, with $11 billion of that total dedicated to software. As one of the fastest-growing EV software startups at its scale, Monta is well-positioned to emerge as the de facto leader in EV charging operations software. We're proud to partner with Monta and support them in their expansion to the U.S., and we are confident in the team's ability to build upon their success in Europe to help operators in America scale their charging infrastructure to meet the growing demands of this market."
About Monta
Monta was founded in late 2020 in Denmark. It is an operating platform that powers the electric vehicle ecosystem by offering an integrated software solution to all the industry actors: hardware manufacturers, installers, operators, fleet managers, residential, workplaces, and the electricity grid.
Powered by its 750+ partners, the Monta platform has 165,000 commercial charging points under supervision. Thanks to the work of our 200+ engineers, our software is compatible with over 500 charge points models - and counting - and on a frequent basis, we release features that are setting the standard in the industry.
Client's employees and drivers can access more than 118.000 public charging points in the US and 600.000 across Europe through the platform. Monta is present in nine European countries (Denmark, France, Sweden, Norway, the UK, Ireland, Germany, Austria, and the Netherlands), and operates in 32 total through its partners. Since its creation at the end of 2020, the company has raised $141M (€130M) in funding from Energize Capital, GreenPoint, Headline, byFounders, AENU, Creandum, Quantum Light, and Denmark's state-backed Export and Investment Fund. For more information, please visit https://monta.com/en-us
Press inquiries: Emile Josselin -
[email protected].
About Energize Capital
Energize Capital is a leading investor in climate solutions. Founded in 2016 and based in Chicago, Energize seeks to scale sustainable innovation by partnering with the builders and operators shaping the future. To date, Energize has funded 30 companies and deployed more than $750 million through its venture capital and growth equity strategies. Anchored by founding partner Invenergy, the firm is backed by strategic, institutional, and impact LPs including CDPQ, Credit Suisse, GE Vernova, Xcel Energy, Caterpillar, HASI, and more. For more information on Energize, please visit www.energizecap.com.
Press inquiries: Kelly Lassing -
[email protected]
About Emobi
Emobi is the leading EV charging ecosystem that offers a single point of integration to a vast network of charging stations and EV fleets, delivering advanced error-handling and unparalleled data accuracy using its AI and data refinement models. As the largest roaming ecosystem in North America, the company also offers its Plug & Charge, a secure and automatic charging technology, for any EV charger. Emobi is trusted by EV manufacturers, startups, utilities, and U.S. government agencies, including the Department of Energy (DoE) and the Department of Transportation (DoT), and is backed by leading investors around the globe, including Y Combinator. To learn more, visit www.emobi.ai.
Press inquiries: Megan Nealon -
[email protected]
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[1] 2024 Data: EV Adoption is Still on Pace in the US | Recurrent Auto
[2] Can OEMs Catch the Next Wave of EV Adopters? | BCG
[4] New: 40,000 comments on public EV charging experience
SOURCE MONTA
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