Portuguese electric vehicle charging firm Powerdot is ramping up its European ambitions, pledging €140 million to expand fast-charging infrastructure across France and Belgium. The move was announced at this year’s Choose France summit, the government-backed initiative designed to woo foreign investment.
The company is earmarking €100 million for France and €40 million for Belgium in a bid to address patchy infrastructure and tap into growing demand for accessible EV charging. The funds will be used to install hundreds of new fast-charging points, often co-located with supermarkets, hotels, and service hubs through partnerships with Intermarché, Delhaize, and Ibis Hotels.
Fixing the imbalance
In Belgium, the rollout aims to fix a stark imbalance: 92% of the country’s chargers are in Flanders, while Wallonia has just 5%. Powerdot plans to add 150 new charge points across 20 locations in the coming months, aiming to reach 1,000 by 2026, up from just 51 at the end of last year. That’s a big leap.
“Our ambition is to become one of the top three fast-charging networks in Belgium by 2026,” a company spokesperson said. “It’s part of our long-term commitment to sustainable mobility.” The expansion is being financed through a green loan facility led by several heavyweight banks, including BNP Paribas, ING, and Société Générale.
Powerdot’s latest funding forms part of a broader €260 million push across its key markets. The company says it is on track to install 15,000 charge points by the end of 2025.
One new charging station a day
As for France, the firm is no stranger to the French investment spotlight. At the 2023 Choose France event, Powerdot laid out major commitments and has since grown at a blistering pace, averaging one new charging station a day in France. It now claims the title of fastest-growing fast-charging operator in the country and has become the leading independent player in Europe.
Powerdot has raised significant capital over the past three years, €150 million in 2022 and another €100 million in 2024. The backing has fueled both a rapid scale-up and investment in technology.
The results are striking. In 2023 alone, Powerdot saw a 201% jump in operational charge points and a 218% rise in energy delivered. Recognition has followed. In April, Powerdot was named one of Time Magazine’s top 150 GreenTech firms globally, ranking highest among European EV charging companies.
As Europe races to phase out fossil fuel vehicles, Powerdot is betting that location, speed, and reliability will set the winners apart. With deep-pocketed backers and a growing list of retail allies, the company appears well-positioned to capitalise on the old continent’s electrification drive.
