ChargeX

ChargeX, founded in Munich in 2018 by Tobias Wagner and Michael Masnitza, develops and produces scalable charging infrastructure solutions for electric vehicles (EVs). The founders, with backgrounds in business administration, energy, engineering, and management, aimed to address the bottleneck in EV adoption caused by a lack of simple, scalable charging solutions for locations with long-stay parking like workplaces and residential buildings. As of January 2024, Tobias Scharfen has taken over as CEO, with Masnitza continuing as COO.

The company's core product is the "Aqueduct" charging system, a modular, plug-and-play solution that functions like a smart power strip for EVs. This patented technology allows up to 10 charging points to be expanded from a single main power connection, significantly reducing installation complexity and costs by over 50%. The system features integrated intelligent load management software that dynamically distributes available power among connected vehicles based on their needs, which is particularly useful for tackling limited grid capacity. This makes the solution well-suited for its primary clients: businesses, commercial landlords, fleet operators, and hotels.

ChargeX operates on a business-to-business model, generating revenue from the sale of its Aqueduct hardware and through digital services. These services include the "Drop Power Sharing" app and a dashboard for administrators, which facilitate monitoring, control, and automated billing for charging sessions. The company has successfully raised a total of $17.7 million over three funding rounds. Its latest funding was a Series B round in July 2023 for €11.5 million ($12.5M), led by UVC Partners, to further develop its technologies, including bi-directional charging, and to expand into other European markets. The company has installed several thousand charging points for over 700 customers.

Keywords: electric vehicle charging, modular charging, smart power strip, load management, EV infrastructure, plug-and-play charging, fleet charging solutions, workplace charging, commercial EV charging, Aqueduct charging system, Drop Power Sharing, energy management, sustainable mobility, B2B charging, bi-directional charging, charging hardware, charging software, charging installation, automated billing, power distribution