Pepper motion GmbH gets almost €30 million new capital injection. First round of financing completed
In addition to R&D projects, aimed at further developing the company’s proprietary technologies, the capital will mainly be allocated to the enhancement of series production with strategic partners and to the market entry phase in other European countries, which is already underway.
Pepper motion completed its first round of financing at the end of March and raised almost 30 million euro. It is indeed a milestone in the growth of the German company, specializing in retrofitting activities in view of electric vehicles (pepper motion is the new name of the former e-troFit). The new capital injection will strengthen pepper’s financial stability and increase its its market perception as a reliable partner for the economic and sustainable realization of a mobility transition to zero emissions.
«Pioneers in the international retrofit industry»
Andreas Hager, Managing Director of pepper motion GmbH, declared: «Our vehicles and retrofit electrification kits have long since provided proof of concept. We are pioneers in the international retrofit industry and set the standard for German engineering, innovation and quality that fleet operators in the public transport and transport/logistics sectors can rely on».
In addition to R&D projects, aimed at further developing the company’s proprietary technologies, the capital will mainly be allocated to the enhancement of series production with strategic partners and to the market entry phase in other European countries, which is already underway. Pepper’s key markets in Europe include, in particular, Germany, France, Italy, Austria and Poland.
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Philipp Lennertz, Managing Partner at Lennertz & Co: «As a business-focused and owner managed family office, what convinced us about pepper was both its unique technology in the production-ready retrofitting of buses and trucks as well as the shareholders’ engineering expertise in the automotive sector, which has been built up over a period of 20 years. In this respect, its technology and service are making a significant contribution to meeting global climate targets. Accordingly, we see high growth potential for pepper, not only in the domestic and European markets, but also globally in a market set to grow rapidly in importance in a very short space of time».
Jörg Murawski, Executive Vice President of the Würth Group, world market leader in the development, manufacture and sale of assembly and fastening materials: «Energy and climate change are among the key challenges of our time. Our society must push for climate-friendly and sustainable solutions if we are to make the transition to mobility that is viable for the future. Sustainability is also an important issue for us. We are active in this area in many ways. pepper is a company that offers an innovative approach to vehicle electrification with its solutions. We are therefore delighted to be able to support this exciting project with a strategic investment».
