Inbalance grid starts its CEE expansion with a major Polish deal

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Aug 19, 2024, 05:00 ET

WARSAW, Poland, Aug. 19, 2024 /PRNewswire/ -- Inbalance grid, the largest Baltic EV charging network operator and solution developer, has entered the Polish market through a partnership agreement with Stokrotka, a large supermarket chain with 1,000+ locations across the country. The company will install 276 charging points at Stokrotka's shops in 2024-2025 and will pursue further expansion within Poland and beyond.

Simonas Stankus, CEO of Inbalance grid, with a company-made EV charging station

Inbalance grid will deploy its proprietary smart charging stations across major Polish cities and smaller towns. This move will establish Stokrotka as the most EV-friendly Polish supermarket chain and strengthen Inbalance grid's position as it expands into more CEE markets.

The companies have already finalized the design and documentation stages of the project and the actual deployment will start soon. Around 60 Stokrotka shops will be integrated into Inbalance grid's network by the end of this year.

According to Stokrotka, the main reason for partnering with Inbalance grid over other market players was the company's technological edge, including expertise in IoT development and integrations, the internationally and locally (UDT) certified hardware and software designed in-house by the company, seamless user experience, robust and scalable infrastructure, and speedy project execution. Therefore, instead of just regular charging hardware, Inbalance grid will deploy in Poland its IoT solution that connects building management systems (BMS), PVs, parking systems and other devices.

Inbalance grid is investing in Stokrotka-owned locations – the same strategy that turned the company into the largest Baltic charging point operator, trusted by major retailers and property managers. All Stokrotka EV locations are designed with future growth in mind: they have the infrastructure to easily add new charging points as demand grows.

Inbalance grid's CEO Simonas Stankus says that the partnership with Stokrotka will serve as a live demonstration of Inbalance grid's break-through in R&D in action in Poland as the company looks forward to more growth opportunities in the country, as well as in Czechia, Bulgaria, Romania, Hungary and other CEE markets.

"European data suggests a shift towards EV charging at locations users visit regularly, such as business and shopping centers. However, these locations bring their own challenges, such as limited electric infrastructure. We have been addressing these hurdles from day one with our flexible and future-proof design and smart IoT-based power balancing solutions that are easy to install and accommodate future demand. This approach has helped us secure a top spot in the Baltic states and enabled us to take solid new steps in more European markets," Stankus explains.

Inbalance grid advocates for rational infrastructure expansion and seeks a fine balance between AC and DC stations. Inbalance grid's Baltic customers include the largest supermarket chains, real estate developers, parking and mobility service operators. The company also has a solid public sector footprint.

In August, Inbalance grid announced a partnership with Orlen Baltics Retail, a gas station chain operating in Lithuania owned by Polish energy giant Orlen. Inbalance grid has already started to install 174 fast EV charging points across the Lithuanian Orlen network by the end of 2027, including 15 charging parks for electric trucks and buses. Inbalance grid has assigned up to 10 million euros to this deal.

Inbalance grid is backed by venture capital funds such as Contrarian Ventures, Coinvest Capital, Orion Ventures, EIT Urban Mobility, private equity funds Equite and I Asset Management, as well as private investors and business angels. The company is headquartered in Vilnius, Lithuania.

Photo: https://mma.prnewswire.com/media/2482950/Inbalance_grid_CEO_Simonas_Stankus.jpg

SOURCE Inbalance grid