innogy Acquires Recargo Inc.

EL SEGUNDO, Calif. and ESSEN, Germany, Oct. 2, 2018 /PRNewswire/ -- innogy eMobility US LLC. has acquired Recargo Inc., a leading software company for electric mobility in the US. With the acquisition, innogy expands its solution portfolio and strengthens its positioning as a technology provider in the American market. Along with the addition of this California-based team and its profound expertise in the EV driver experience and agile technology development, the deal also provides innogy with full access to Recargo's leading electric mobility app, PlugShare.

PlugShare is the leading network-agnostic electric vehicle charging application in the US and gives EV-drivers accurate, up-to-date charge point data regardless of its operator. With the app and its database, innogy can now offer a software solution with extended access to POI data all over the US and Europe to provide excellent quality for the electric mobility solutions of innogy's customers.

Martin Herrmann, Chief Operating Officer Retail of innogy SE, comments: "By investing in Recargo, we are expanding our presence in the US market on a lasting basis. Recargo is an excellent addition to our existing US activities. In general, electric mobility in the US is experiencing a boom, and globally, the US is one of the most attractive markets for electric mobility."

PlugShare is the number one app for locating charging stations for electric cars and offers a complete database of all charging locations in the United States to more than 400,000 registered users and many others who have downloaded the app, use the PlugShare.com website, or access PlugShare data through partner API integrations. This makes traveling for EV-drivers easier and more confident and provides industry stakeholders market intelligence for planning and making critical infrastructure decisions.

"We are very excited about the acquisition of Recargo. The purchase enables us to offer our customers top notch IT-Services and leading electric mobility solutions," says Elke Temme Senior Vice President electric mobility at innogy SE. "The PlugShare database has the largest and most accurate public charging map in the world. For our customers this means the highest quality charging data in our software solutions."

Simon Loeffler, CEO of innogy emobility US, concludes: "The acquisition of Recargo is very exciting for all of us. We not only gain access to great information technology resources and best-in-class UI & UX know-how, but also invest in a brilliant team of EV experts!"

"We are proud to become a part of innogy," states Brian Kariger, Chief Executive Officer at Recargo. "We are looking forward to working with innogy teams worldwide, continuing our focus on the EV driver experience. Together we can use our joint expertise to further advance the international electric mobility market in ways not possible alone."

About innogy SE
innogy SE is a leading German energy company, with revenue of around €43 billion (2017), more than 42,000 employees and activities in 16 countries across Europe. With its three business segments Renewables, Grid & Infrastructure and Retail, innogy addresses the requirements of a modern, decarbonised, decentralised and digital energy world. Its activities focus on its
more than 22 million customers, and on offering them innovative and sustainable products and services which enable them to use energy more efficiently and improve their quality of life. The key markets are Germany, the United Kingdom, the Netherlands and Belgium, as well as several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland. In renewable power generation, the company is also active in other regions, e.g. Spain, Italy and the USA, with a total capacity of 3.9 gigawatts. As a leader of innovation in future-oriented fields like eMobility, we are represented in the international hot-spots of the technology industry such as Silicon Valley, Tel Aviv and Berlin. We combine the extensive expertise of our energy technicians and engineers with digital technology partners, from start-ups to major corporates.

SOURCE innogy