This credit facility represents an increase from a CA$20m facility in 2021, further enabling Flo to accelerate the growth of its North American EV charging network as it continues significant expansion across Canada and the United States.
"This arrangement is another endorsement of Flo's successful business strategy and recognition of our growth as we continue to witness incredible momentum in our industry," said Louis Tremblay, Flo president and CEO. "Our renewed and long-standing business relationship with the National Bank of Canada positions Flo to continue its ambitious strategy, support sustainable development and cement its role in ushering in a zero-emissions transportation future.
Flo says it has experienced tremendous growth over the last 24 months, more than doubling its workforce and expanding further into the US market.
"For over twenty-five years, our group has partnered with Canadian success stories, and Flo is among them," said Tuyen Vo, head of Technology and Innovation Banking Group. "National Bank is dedicated to supporting a smooth and inclusive energy transition to a low-carbon economy. We are happy to support Flo's business plan. This additional credit facility is a testament to the Flo team and all the work they have done to expand reliable EV charging infrastructure in North America."
