Netherlands-Based Rocsys BV Receives €18 Million Funding Boost from European Investment Bank

Netherlands-Based Rocsys BV Receives €18 Million Funding Boost from European Investment Bank

(IN BRIEF) Rocsys BV, a Netherlands-based provider of autonomous charging solutions for electric transport, has secured an €18 million investment deal with the European Investment Bank (EIB). The agreement, made possible through the InvestEU programme, aims to accelerate the development and deployment of Rocsys’ second and third-generation autonomous robotic charging solutions from 2023 to 2025. The investment will focus on hardware and software technology development, as well as testing equipment. Rocsys’ technology, based on biomechanical soft robotics, offers safety, cost-effectiveness, and scalability, as it can be retrofitted on any standard electric vehicle connector without the need for changing charging hardware. The financing falls under the Thematic Green Transition product, supporting sustainable investments and future technologies for a low-carbon economy. The partnership is expected to attract other equity and debt providers, signaling further support for Rocsys’ innovative solutions.

(PRESS RELEASE) LUXEMBOURG, 11-Jul-2023 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, is pleased to announce a €18 million quasi-equity agreement with Rocsys BV, a prominent Netherlands-based provider of autonomous charging solutions for electric transport. This collaboration aims to provide Rocsys with the necessary financial support to expedite the development and deployment of its second and third-generation autonomous robotic charging solutions throughout the 2023-2025 period.

EIB Vice-President Kris Peeters commented: “With the increasing popularity of both private and professional electric vehicles, robotic charging can seriously improve the efficiency and convenience of charging operations. This, in turn, can help to accelerate the transition towards zero-emission electric vehicles, which is crucial for decarbonising our economies. After LeydenJar, Rocsys is yet another Dutch company that can have an important impact on the electric vehicle sector.”

Rocsys’ investment plans during this timeframe will concentrate on advancing hardware and software technology development, as well as testing equipment. The EIB’s financing for this project has been made possible with the assistance of the InvestEU programme, which aims to mobilise over €372 billion in additional investment for EU policy priorities from 2021 to 2027.

One of the key strengths of Rocsys’ technology, initially based on biomechanical soft robotics for exoskeletons developed at Delft University, lies in its exceptional safety, cost-effectiveness, and scalability. The technology boasts the unique advantage of being retrofitted on any standard electric vehicle connector and charging equipment, rendering modifications to charging hardware unnecessary.

“Rocsys combines the power of robotics and AI to streamline the electric vehicle experience by enabling autonomous charging. We believe that this technology will significantly contribute to the global adoption of zero-emission vehicles among both consumers and fleets while moving us closer to a world of fully autonomous mobility,” said Rocsys Co-founder and CEO Crijn Bouman. “This recognition and investment from the EIB shows that our vision is aligned with the key institutions shaping the future of sustainable transportation.”

European Commissioner for the Economy Paolo Gentiloni added: “Decarbonising our economies requires substantial and continuous investment in innovative technologies. I am proud of the significant contribution that InvestEU is making in this context. This agreement will support an infrastructure innovator business in the Netherlands developing autonomous robotic charging solutions. It will unlock the necessary resources at a critical stage of the technological development, while advancing important goals for the green transition such as a sustainable and clean modes of transport.”

The InvestEU support for Rocsys’ financing falls under the Thematic Green Transition product, which is committed to promoting sustainable investments and future technologies, facilitating the transition to a low-carbon economy. This agreement signifies a critical stage of technological development for Rocsys, and the EIB is proud to play a pivotal role in supporting this endeavor. Furthermore, it is anticipated that this collaboration will generate a positive signalling effect, attracting other equity and debt providers to join the cause.

Background information

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Rocsys BV provides autonomous charging solutions for electric vehicles and equipment. With an innovative approach combining soft robotics, artificial intelligence-based computer vision, and data-driven services, Rocsys creates a reliable, seamless, efficient, and cost-effective charging experience for fleets and consumers. Rocsys ensures reliability in charging by removing the risk of operator errors and maximising efficiency, enhancing safety by limiting exposure to high-voltage equipment. Rocsys can easily transform any existing charger into an autonomous system backed by a cloud-connected platform for support and frictionless integration with other fleet management tools. Founded in 2019 and headquartered in the Netherlands, with US operations based out of Portland, Oregon, Rocsys is setting the standard for the future of autonomous charging with leading roles in industry consortia and strategic partnerships with multinational corporations and original equipment manufacturers (OEMs).

Media contact:

Tim Smit
t.smit@eib.org
+352 4379 – 89076

Press Office
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SOURCE: European Investment Bank