#Japan #EV Charging #Funding Round #Minato #Terra Charge

Terra Charge Secures Major Funding for EV Infrastructure Expansion

In a significant move to strengthen electric vehicle (EV) infrastructure in Japan, Terra Charge, a company founded to install and operate EV charging stations nationwide, has successfully completed the second half of its Series D funding round with an impressive 10.4 billion yen raised. This brings the total amount raised in the Series D round to 20.4 billion yen, contributing to an overall fundraising total of 26.14 billion yen since the company's establishment.

Fundraising Background and Goals

Operating under the mission of "Energy for Everyone and EVs," Terra Charge provides comprehensive EV charging solutions to businesses and local authorities. The firm also runs an app called "Terra Charge" that enables EV users to locate and pay for charging services easily. Established in April 2022, the company has already surpassed 15,000 EV charging installations, with this number expected to grow significantly by March 2025.

With Japan's ambition to achieve carbon neutrality by 2050, there has been a related surge in the popularity of EVs and the associated infrastructure. The Ministry of Economy, Trade and Industry (METI) has set a target for 300,000 EV chargers by 2030, up from the current 68,000 chargers in operation. This increase is essential for meeting the growing demand and for creating a conducive environment for consumers to switch to electric vehicles.

Terra Charge aims to address the pressing challenge of insufficient charging infrastructure with the newly acquired funds, accelerating the growth of its charging network, advancing technology development, expanding internationally, and enhancing its staffing and organizational capabilities.

Details of the Funding

• - Total Amount Raised: 10.4 billion yen
• - Funding Method: Equity and debt funding
• - Key Investors: Mizuho Bank, Aozora Bank, Sumitomo Mitsui Trust Bank, Resona Bank, among others.
• - Use of Funds: Expand EV charger installations, hire new talent, further technological development, and international growth efforts.

Investor Insights

Mr. Tomohiro Sakanoue, Head of Mizuho Bank's Shibuya Corporate Division, expressed pride in supporting the expansion of Terra Charge's EV charging network through this significant financial backing. He noted that development in charging infrastructure is key to encouraging more consumers towards the transition to electric vehicles, which is crucial for achieving Japan's carbon neutrality goals.

Masaki Yokota, Head of Growth Companies Support at Sumitomo Mitsui Trust Bank, highlighted the fundamental role Terra Charge plays in the government’s initiative to promote EV uptake and the integral part the company plays in addressing environmental challenges. He emphasized his commitment to support companies like Terra Charge, which demonstrate high growth potential and a willingness to innovate in this vital industry sector.

Company Leadership Comments

Toru Tokushige, the CEO of Terra Charge, expressed his profound gratitude for the support received during the funding process. He emphasized the importance of establishing robust EV charging infrastructure as a cornerstone for revitalizing Japan's industrial leadership in the global market. He sees this funding not just as a testament to their growth but as a commitment from stakeholders to support a newly emerging industry that will be crucial moving forward.

Going forward, Terra Charge is dedicated to creating a service that harmonizes with the environment while enriching people's lives, utilizing cutting-edge technology and on-site capabilities to innovate for the future.

Hiring Opportunities

Terra Charge is also expanding its team, with numerous job openings available:

• - Sales Manager (Department Head Candidate)
• - BizDev
• - Sales
• - Customer Support
• - App Engineer
• - Backend Engineer
• - Full Stack Engineer
• - QA Engineer

For applications or inquiries, please visit: Career Opportunities.

About Terra Charge

Terra Charge, headquartered in Minato-ku, Tokyo, is on a mission to build the EV charging infrastructure needed to support a sustainable future. Founded in April 2010, they are committed to pioneer solutions that power all EV users. Their efforts align with Japan’s leading role in innovation and sustainable energy solutions. For additional information, visit Terra Charge Website.
For inquiries regarding EV charging infrastructure, please contact via email at [email protected].

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