Ionity has secured financing of up to €600m to expand its ultra-fast EV charging network in Europe.
The financing includes €450m in committed green loan facilities and a so-called accordion facility ─ the option to increase the credit line by up to €150m later for future growth.
Ionity says the loan transaction, provided by nine leading international commercial banks, marks the largest ever in the European charging industry and underscores the market’s trust in IONITY’s long-term vision.
The company previously completed a €700m equity round in 2022, led by BlackRock Global Infrastructure Partners Fund and Ionity’s OEM shareholders.
Ionity says it will invest the new capital in the continued expansion and upgrade of its ultra-fast charging network, focusing on highways and urban hubs to address the growing demand for convenient and reliable high-power charging across Europe.
Currently operating over 5,000 charging points, the company aims to more than double the number of charging points to approximately 13,000 and grow its network to more than 1,300 charging sites by the end of 2030. Ionity chargers can provide a minimum of 350 kW, enabling up to 300 kilometres of range in 10 to 15 minutes.
Ionity says it is the only European network supporting 800V vehicle infrastructure at every charging point. Through continuous integration of technologies ─ such as the Alpitronic HYC1000 system, capable of delivering up to 600 kW ─ the company adds that it is moving closer to its goal of enabling high-power charging sessions that add several hundred kilometres of range in less than 10 minutes.
Its EV chargin partnerships include hospitality and retail brands such as Starbucks, Circle K, L’Osteria and Village Hotels.
With the EU targeting nearly 30 million EVs on the road by 2030, Ionity says accessible and reliable high power charging infrastructure is more critical than ever. By investing in the expansion and enhancement of its ultra-fast network across 24 European countries, the company states that it will directly support mass market adoption and strengthen the future competitiveness of the European mobility industry.
“This financing marks a major milestone ─ not just for Ionity, but for Europe’s transition to clean, sustainable mobility,” says Torsten Kiedel, CFO of Ionity. “From day one, we’ve proactively built a truly European high-power charging network ─ without compromising on speed, reliability, or convenience. Now, we’re scaling faster than ever to build the backbone of tomorrow’s sustainable mobility infrastructure and bring ultra-fast charging to everyday destinations. Our mission is clear: to power seamless electric journeys and create lasting value for the economy, society, and the environment.”
Behind the financing stands a syndicate of banks: ABN AMRO Bank, BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank, KfW IPEX-Bank, Landesbank Baden-Württemberg, German branch of MUFG Bank (Europe), Norddeutsche Landesbank Girozentrale and Rabobank with BNP Paribas acting as the financial advisor, Clifford Chance acting as the lenders legal advisor and A&O Shearman acting as Ionity’s legal advisor. Ionity’s shareholders BMW Group, Ford, Hyundai, Kia, Mercedes-Benz, Volkswagen Group ─ including Audi and Porsche ─ and BlackRock’s Global Infrastructure Partners Fund also played a significant role in supporting Ionity in the process.