Wallbox has received a $45-million investment, which includes $35 million from lead investor, Generac Power Systems, a leading global designer and manufacturer of energy technology solutions and other power products. The strategic investment reinforces the partnership with Generac and highlights Wallbox’s position in the market.

This investment strengthens Wallbox’s balance sheet and provides capital to accelerate the company’s ability to manufacture and sell more of its award-winning chargers throughout the world, particularly in the fast-growing North American market. The partnership with Generac further enhances this strategy given their 8,000+ authorized installers and ability to integrate with other Generac energy management systems.

This is the second minority investment Generac has made in Wallbox, and aligns with the companies’ commercial relationship, announced December last year along with the recent addition of Paolo Campinoti, Executive Vice President at Generac International to the Wallbox board of directors. Aside from Generac, the investment includes additional funding from a number of long-standing shareholders.

The private placement of its Class A ordinary shares pursuant to which Wallbox will sell 36,334,277 Class A ordinary shares for aggregate gross proceeds of $45 million to certain existing investors. The private placement is expected to close on 5 August 2024, subject to the satisfaction of customary closing conditions.