NW Storm strengthens partnership with RGREEN INVEST, securing supply for 10 GWh of batteries over the next three years

As per the terms agreed on June 29, 2022, NW Groupe and RGREEN INVEST announce today the securing of funds assigned to NW Storm, NW Groupe’s subsidiary dedicated electricity storage and electric mobility.

NW Groupe has long been recognized for its expertise in the development of renewable energies, and has developed and patented, through its subsidiary NW Storm, a high-power electrical charging hub, composed of an energy storage solution (JBox®) for the balance of the electrical network and a high-power and fast charging system for electric vehicles – 150 kW and more – (the IECharge®).

With the funds raised by RGREEN INVEST, NW Storm (ranked among the French Tech 120) is valued at €1.5 billion.

NW Storm has already secured an additional 10 GWh of battery capacity from its partner suppliers over the next few years, enabling it to meet its ambitious growth objectives for 2023-2026 and confirm its status as France’s first energy transition unicorn.

“There are two primary imperatives underlying the energy transition”, explains Jean-Christophe KERDELHUÉ, President and founder of NW Groupe, “The first is network flexibility, which makes storage an essential tool; the second are widespread hyper-powerful recharging systems distributed across rural and urban territory, without destabilizing the electrical network. The pairing of Storage and Hyper Recharge technology will define the future. Our teams, our patents and this fundraising help ensure our leadership on both fronts: storage and hypercharging”.

“This capital contribution supports NW Storm’s acceleration in France and internationally and gives them the stability and visibility required to drive the energy transition at the required pace and scale”, adds Nicolas ROCHON, President and founder of RGREEN INVEST.

NW Storm’s technology generates a 40% reduction in CO2 emissions compared to the use of electricity produced from natural gas. As such, the JBox and the IECharge received the label of Bertrand PICCARD’s Solar Impulse Foundation at the inauguration of the first high-powered recharging station in Vezin-le Coquet.