Investment capital reinforces EBOOST’s leading position as the first mover for open network EV charging in Vietnam
Singapore – 21 February 2023: Clime Capital, the Singapore-based fund manager focusing on accelerating the low carbon transition, today announced that the Southeast Asia Clean Energy Facility (SEACEF) has committed funding to EBOOST, the first-mover and market-leading open network electric vehicle (EV) charging operator in Vietnam.
SEACEF’s investment in EBOOST will fund the deployment of EV charging installations in Vietnam and provide safe and affordable EV charging services to Vietnam’s early EV adopters.
The absence of EV charging infrastructure has been cited as a critical factor holding back the pace of EV deployment in Vietnam and elsewhere in Southeast Asia. SEACEF’s investment into expanding EV charging availability has the potential to accelerate decarbonisation of Vietnam’s transportation sector, which accounts for 25% of the country’s CO2 emissions.[1]
Mason Wallick, Chief Executive Officer at Clime Capital, said: “We are thrilled to support EBOOST in dramatically expanding the critical resources to electrify transport in urban centres like Ho Chi Minh and Hanoi, which will provide urgent and massive CO2 mitigation when we need it the most – right now.”
Stefan Kaufmann, Chief Executive Officer at EBOOST, said, “We at EBOOST are very excited to move ahead with SEACEF and to continue supporting Vietnam's decarbonisation. It enables us to accelerate our mission building smart EV infrastructure across Vietnam and thus, offering our charging service to as many EV users as possible.”
Joshua Kramer, Chief Investment Officer at Clime Capital, said, “The accelerated deployment of EBOOST’s open network EV charging infrastructure has the potential to create a virtuous cycle to drive EV adoption which could in turn supports further deployment of EV charging infrastructure.”
In addition to the EBOOST investment, SEACEF has completed seven investments in Indonesia, Vietnam, and the Philippines since the fund’s launch in June 2020. SEACEF is backed by leading international climate foundations and investors.
For more information, please contact:
Jeremy Hughes
Smart Word Pte. Ltd.
T +61 (0) 468 992 481
E jeremy@smartwordgroup.com
Mason Wallick
Clime Capital Pte. Ltd.
T +65 9457 5310
E mason.wallick@climecap.com
About Clime Capital
Clime Capital Management Pte. Ltd. (Clime Capital) is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. Clime Capital is the manager of SEACEF. The Clime Capital team consists of senior professionals with deep Southeast Asian market experience in clean energy investments and developments. The team brings a diversified skill set in early-stage project funding and development, investment and portfolio management, project finance, design and engineering, operations, and environmental safeguards. Clime Capital has an on-the-ground presence in Vietnam, Indonesia, the Philippines, and Singapore.
About SEACEF
Southeast Asia Clean Energy Facility (SEACEF) provides catalytic early-stage investment funding to address climate change by reducing and removing many of the key early-stage barriers that stall or prevent successful clean energy projects and businesses. By placing development risk capital into innovative, high-impact clean energy opportunities, SEACEF is focused on the funding and scaling of globally proven technologies and business models such as solar, wind, and energy storage (on-grid and behind the meter), plus other business models that accelerate the low carbon transition – such as electric mobility, demand side management technology, energy efficiency and clean energy transmission infrastructure.