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EIB loan finances smart mobility solutions in Germany

The EU bank will be providing 15 million euros for the development of smart charging technology

  • August 26, 2020 09:30
  • Author Anton Stoyanov
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The European Investment Bank (EIB) has announced that it will be providing a loan worth 15 million euros to The Mobility House for the development of smart charging technology in Germany. The Mobility House is a tech company focused on providing solutions for achieving an emission-free future in the fields of energy and mobility and thanks to the support provided by the EU, it will be able to push its efforts to entirely new levels.

Innovative solutions for the future

The loan that will be provided by the EU bank will more specifically target the development of a smarter charging grid in Germany meant to facilitate the integration of electric vehicles in the country’s overall infrastructure and energy market. The funding will also play a key role in developing The Mobility House’s current flagship project – ChargePilot – an innovative intelligent charging and energy management system.

The development of electric mobility solutions is a key pillar of the EU’s strategy for achieving a cleaner and more climate-friendly future. Its importance was emphasized by Ambroise Fayolle, EIB Vice President in charge of innovation, who stated that “Whilst e-mobility alone will not stop climate change, it is a powerful tool to help us limit the rise in global temperatures to sustainable levels. The Mobility House has devised a technology with significant potential to make electric mobility more attractive and expand the use of renewable energies. As Europe’s climate bank, the EIB aims to support breakthrough ideas in the field, and we are glad to support a company with a zero-emission vision and the right tools at hand to turn it into reality.”

The European Commission also chimed in on the importance of electric mobility for Europe’s future, with Commissioner for Innovation, Research, Culture, Education and Youth Mariya Gabriel commenting that “By 2050, electric vehicles could provide up to 20% of the flexibility required on a daily basis. This seems substantial, but technologies such as the one we are supporting today with Horizon 2020 prove that this ambition is attainable. All scenarios point to tremendous growth in electric vehicles so we need to seize this opportunity to the fullest and bring about the much-needed energy transition.”

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