Iberdrola, Orilla and Enric Asunción inject 10 million dollars into the Catalan company Wallbox
The Catalan electric car charger company closes a round of financing just before presenting its results
BarcelonaThe Catalan electric car charger company Wallbox announced this Monday that it has closed a financing round worth around 10 million dollars (about 9.5 million euros), subscribed by Inversiones Financieras Perseo (a subsidiary of Iberdrola), Orilla Asset Management and the CEO and co-founder of the company.
This round of financing is announced just two days before Wallbox, which is listed in the United States, presents the results for the fourth quarter of 2024 and the entire fiscal year of last year. A year earlier, in 2023, this year unicorn –a company valued at more than 1 billion dollars– Catalan closed with losses of 107 million eurosHowever, a figure that reduced the red numbers of the previous year by 23%.
The company has assured that the new round of financing shows "the confidence of investors in Wallbox's strategic vision", and highlights that the new capital injected will allow it to strengthen its financial position, which has been affected during the 2023 and 2024 financial years. due to weak demand for electric cars. Half a year ago Wallbox already did a capital increase of 45 million dollars to strengthen its balance sheet.
The company, in a statement, highlights that in addition to Iberdrola, Orilla and Asunción, "several long-standing shareholders" in the company have also participated in the financing round, which reaffirms its commitment to the company's long-term objectives. "This round of investment reinforces our mission to make electric vehicle charging more accessible around the world, while driving operational efficiency and financial sustainability," highlights Wallbox CEO Enric Asunción.
Strengthening the balance sheet
The company says it will provide more details on this injection of new capital at its earnings presentation on Wednesday. "The continued support of our shareholders reflects their confidence in our long-term vision and strategy. As we expand our global presence, this financing will help us on the path to profitability and consolidate our leadership in the EV charging industry," it says.
For his part, David Mesonero, head of corporate development at Iberdrola, explained that "this investment will strengthen Wallbox's liquidity position to execute its business plan, reinforcing its commitment to accelerate the global transition to clean energy and sustainable mobility."