Connect with us

Hi, what are you looking for?

CleanTechnica

Batteries

Gogoro Completes $300 Million Series C Investment Round

The energy and urban transit focused firm Gogoro has successfully completed a $300 million Series C investment round — which saw involvement of Temasek, Generation Investment Management, Sumitomo Corporation, and Engie.

The energy and urban transit focused firm Gogoro has successfully completed a $300 million Series C investment round — which saw involvement of Temasek, Generation Investment Management, Sumitomo Corporation, and ENGIE.

For those unfamiliar with those names, Temasek is an investment outfit based out of Singapore; ENGIE is a France-based energy giant; Sumitomo Corporation is a Japan-based business group that was founded all the way back in 1615 by a bookstore-owning Buddhist priest; and Generation Investment Management is a London-based investment management group founded by Al Gore and David Blood.

This group joins Gogoro’s existing investors, which include Panasonic, Samuel Yin, and others.

As far as those unfamiliar with the name Gogoro itself, its innovative battery swapping network has been deployed in concert with its Smartscooter EV product in Taiwan. Gogoro launched its Smartscooter EV and “Energy Network” in Taipei in 2015 and then across Taiwan. It also grew in Europe (Berlin and Paris) through the Coup e-scooter sharing program.

To date, there have been over 34,000 Gogoro Smartscooter EVs sold worldwide, and more than 400 GoStation battery swapping stations installed. Here are a few more facts:

  • Nearly 100 million kilometers ridden by customers
  • 17,000 batteries swapped per day (6 million total batteries swapped)
  • 4,135,000 liters of gasoline saved plus 8 million kilograms less CO2 emitted

The CEO of Gogoro, Horace Luke, commented on the news: “One of the greatest challenges of our time is transitioning our cities to a smarter and more sustainable energy and transportation infrastructure. Gogoro provides a new approach for cities to embrace sustainable energy through a smart connected infrastructure and battery swapping system that has demonstrated success across Taiwan and Berlin. New investments from leaders like Temasek and Generation combined with investments from visionary corporations like ENGIE and Sumitomo Corporation are a strong validation of Gogoro’s business and market success.”

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Clean Transport

If Porsche made a kick scooter ...

Clean Transport

NIU is taking America by storm — one high-end shop at a time!

Clean Transport

Ben Silver has dreams of being a global change agent with the duo. This dream is epitomized by the world map on his boardroom...

Clean Transport

What happens when the novelty act becomes the headliner.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.