A subsidiary of Wichita-based Koch Industries Inc. is putting money behind a company specializing in charging stations for electric vehicles.
Koch Strategic Platforms (KSP) is investing an undisclosed amount in EVBox as it targets the industry as one of growth opportunities.
The backing comes in advance of a planned merger between EVBox, which was founded in 2010 in the Netherlands, and TPG Pace Beneficial Corp. that will take the company public later this year.
“The world continues to see significant change as technology and innovation impact everything we do,” David Park, president of KSP, says in a press release. “Our investment in EVBox demonstrates Koch’s continuous commitment to evaluating specific industries for potential investment opportunities, including the energy transformation space.”
As part of the partnership, the companies will also evaluate installing charging stations at Koch offices around the world, as well as opportunities to leverage Koch's existing businesses to help drive EVBox's growth.
EVBox has built facilities across Europe and North America since its founding, shipping more that 200,000 charging stations to customers in 70 countries.
Koch, which has been tied to the energy business throughout its history but has branched out into a wide array of industries over time, is the largest privately held company in the U.S.
KSP is one of Koch’s newest subsidiaries, having been founded last year with offices in Wichita and Atlanta.
