NaaS Technology Inc. to Purchase Charge Amps

Beijing, China & Stockholm, Sweden, Aug. 22, 2023 (GLOBE NEWSWIRE) -- NaaS Technology Inc. (NASDAQ: NAAS) has announced its plans to acquire Charge Amps AB, a Swedish EV charging solutions provider, for approximately SEK 724 million (US$66.4 million). This acquisition is a significant step for NaaS as it expands its global presence following its recent acquisition of Sinopower HK, a major solar PV service provider in Hong Kong.

Charge Amps is a leading EV infrastructure supplier based in Sweden. With a focus on home and destination AC charging solutions, the company has established itself as a pioneer in the market. It holds a 22% market share in Sweden and operates in 13 international markets. Charge Amps is also committed to sustainability and is a participant in the UN Global Compact.

The growth of electric vehicle sales and the corresponding need for charging infrastructure are outpacing each other. Europe, in particular, is leading the shift towards vehicle electrification, with an estimated 62 million EVs to be sold by 2030. To support this growth, a well-developed charging infrastructure and software management system are necessary, with an expected installed charger base of nearly 50 million by 2030. This highlights the need for collaboration between EV infrastructure manufacturers and integrated service providers.

Alex Wu, Co-founder, President, and CFO of NaaS, expressed optimism about the prospects of EV penetration in Europe and the overall charging service capacity. He believes that the acquisition of Charge Amps will further strengthen its position in the EV charging space and bring value to shareholders. Olle Tholander, CEO of Charge Amps, also welcomed the acquisition and emphasized the potential for growth and expansion under the NaaS brand.

The acquisition will involve a comprehensive integration of technology, products, personnel, capital, and market perspectives. Charge Amps' technological innovation and market channels will enable NaaS to provide localized services in Europe and establish itself as a one-stop EV charging solutions provider.

As of March 31, 2023, NaaS has an extensive network of over 575,000 chargers and 55,000 charging stations. In the first quarter of 2023, charging volume transacted through NaaS' network increased by 112% YoY, and gross transaction value increased by 107% YoY.

NaaS Technology Inc., a subsidiary of Newlinks Technology Limited, is listed on Nasdaq and provides charging solutions and value-added services for charging station operators and EV owners. The company also collaborates with charger manufacturers, OEMs, and other industry partners to improve charging efficiency and customer experience. Charge Amps, founded in 2012, develops innovative and sustainable charging solutions for electric vehicles and is undergoing rapid international expansion.

Sources:

- NaaS Technology Inc.: www.enaas.com/en/

- Charge Amps: www.chargeamps.com

- NaaS Press Contact: Hui Meng NewLink Group, NaaS Technology Inc. pr-at-enaas.com

- Charge Amps Press Contacts: Amanda Wirhed amanda.wirhed-at-redgertcomms.com, Ben Bunyard ben.bunyard-at-redgertcomms.com