OVO to take on investment from Mitsubishi Corporation, in exchange for 20% minority stake
OVO has announced a strategic investment from Mitsubishi Corporation for a 20% stake in the business.
OVO will use the proceeds of Mitsubishi Corporation’s strategic investment to expand into new markets across Europe and Asia Pacific and accelerate the development of its intelligent energy technologies unit, Kaluza. This new division within the OVO portfolio develops and manages software and hardware to support the integration of electric vehicles and dynamic battery storage onto the grid.
Greentech Capital Advisors acted as the exclusive financial advisor to OVO.
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