INDRA REVEALS MORE THAN £20M FRESH INVESTMENT TO DRIVE INNOVATION IN BIDIRECTIONAL CHARGING

Malvern-based EV charging and smart energy technology business, Indra, has received more than £20 million in fresh investment following its oversubscribed Series B funding round, led by Gulf Oil International.

The additional investment will help Indra expand the development of its technology in the bidirectional electric vehicle (EV) charging space.

This game-changing technology is designed to help EV drivers save money and the planet by accessing low-carbon renewable energy to charge their EV batteries, and use any surplus energy stored in their vehicle to power their home or sell back to the grid. It is also heralded as a vital component in achieving a sustainable energy ecosystem that can maximise use of renewable energy to balance peak demand on the grid.

The latest funding round follows Indra’s involvement in the government’s V2X (bidirectional charging) Innovation Programme, to help industry bring this technology to consumers in the UK.

Adrian Moores, Indra’s CEO said: “This additional investment shows the depth of confidence in our ground-breaking technology as we continue to push boundaries and unlock the potential of electric vehicles as portable energy