Wallbox announced this morning the sale of at least 3% of the capital to the American group Generac, a developer of energy systems software for more than 60 years.
The operation has been part of a capital increase worth 31.7 million dollars, which is equivalent to about 28 million euros at the current exchange rate, in which Generac and other investors who were already present in the capital of the company. Among them, Iberdrola, co-founder Enric Asunción, and also Orilla Asset Management and Skabholmen Invest AB.
Company sources assure this newspaper that the operation has been closed valuing Wallbox's share at $3.05, which is almost double what it is worth today ($1.5, a figure that is far from of the 9.5 dollars that the share was worth on the day of its stock market debut).
These sources explain that the company has not yet determined where the capital obtained from this operation will be invested. In any case, the movement reinforces the link of the Barcelona company with the United States, where it has recently opened a factory (located in Texas) and where it is listed on the New York Stock Exchange.
According to a statement, Generac will have a seat on the board of directors and has sealed a commercial alliance with Wallbox. For its part, it plans to offer its customers Wallbox's electric vehicle charging solutions, which include home chargers and the bidirectional charger.
On Wallbox's part, "being able to add Generac to our distribution network will provide us with a level of accessibility that does not exist in the market today. We are very pleased to welcome them both as collaborators and investors and we hope to be able to offer more value to our clients and shareholders," concluded Asunción.
