ElectReon Raises $50 Million For Dynamic Wireless Charging

ElectReon has received a financial boost and can now develop commercial dynamic wireless charging projects of up to around 30 km.

ElectReon Wireless, the Israeli specialist of dynamic wireless charging, raises $50 million in an equity offering for further development and implementation of new projects.

ElectReon wrote that the round was led by “some of Israel’s biggest institutional investors, such as Migdal, Psagot, Mor, Excellence, and Halman Aldubi, and leading hedge funds Alpha, Safra and Sphera, as well as Afcon Holdings which is the biggest EV charging player in Israel”.

We’ve been watching the company’s first demo project on the island of Gotland (Sweden) since 2019. The pilot installation includes a test section of the 1.6 km (1 mile) and a 40-ton all-electric truck, equipped with five 20 kW wireless modules (100 kW total).

ElectReon dynamic wireless charging

ElectReon dynamic wireless charging

The vehicle can be powered or even recharged over the wireless charging section, which allows it to carry only a symbolic battery pack.

The plan for near future is to complete full commissioning of its demo projects in Tel Aviv, Israel and in Sweden by the end of 2020 and then use the funds to accelerate larger, commercial projects, as well as to expand to selected new markets like Germany, Italy, France, California, India, and Latin America “where it is currently developing additional projects”.

The commercial project will include:

The dynamic wireless charging can be applied to various vehicles, including buses, heavy-duty trucks to shuttles, taxies, light trucks, vans and autonomous vehicles. We don’t see private passenger cars on ElectReon’s list, which suggests that it is not the initial target.

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