Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, has invested in Momentum Dynamics Inc., a developer of high power wireless charging solutions for electric vehicles.

Momentum Dynamics is commercializing high-power inductive charging for the automotive and transportation industries, especially suitable for commercial electric, autonomous and connected vehicles.

Momentum Dynamics’ technology and competence within inductive bi-directional transmission of electrical energy and information safely through air, water and ice will fit the harsh conditions under which our customers operate. High capacity charging up to 300 kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition.

—Per Adamsson, Vice President at Volvo Group Venture Capital

Momentum Dynamics is conducting pilots in Europe and North America with both fleets and vehicle manufacturers of cars, buses, trucks and trains.

The transaction has no significant impact on the Volvo Group’s earnings or financial position.