Funding permits FLO to additional fund the expansion of its operations
QUEBEC CITY , Sept. 25, 2023 /CNW/ – FLO, a number one North American electrical automobile (EV) charging firm and a wise charging options supplier, introduced it secured a C$60 million revolving credit score facility from Nationwide Financial institution of Canada, by way of its Expertise and Innovation Banking Group, This credit score facility represents a rise from a $20 million facility in 2021, additional enabling FLO to speed up the expansion of its North American EV charging community because it continues vital enlargement throughout Canada and america.
“This association is one other endorsement of FLO’s profitable enterprise technique and recognition of our progress as we proceed to witness unimaginable momentum in our trade,” mentioned Louis Tremblay, FLO President and CEO. “Our renewed and long-standing enterprise relationship with the Nationwide Financial institution of Canada positions FLO to proceed its bold technique, assist sustainable growth and cement its function in ushering in a zero-emissions transportation future.
FLO has skilled large progress during the last 24 months, greater than doubling its workforce and increasing additional into the U.S. market.
“For over twenty-five years, our Group has partnered with Canadian success tales, and FLO is amongst them,” mentioned Tuyen Vo, Head of Expertise and Innovation Banking. “Nationwide Financial institution is devoted to supporting a easy and inclusive vitality transition to a low-carbon economic system. We’re pleased to assist FLO’s marketing strategy. This extra credit score facility is a testomony to the FLO crew and all of the work they’ve finished to develop dependable EV charging infrastructure in North America.”
For extra on FLO’s merchandise and mission, go to flo.com.
About FLO
FLO is a number one North American electrical automobile (EV) charging community operator and a wise charging options supplier. We assist to beat local weather change and speed up EV adoption via a vertically built-in enterprise mannequin and by delivering EV drivers the most effective charging expertise from curbside to countryside. Each month, we allow greater than 1 million charging occasions because of over 95,000 quick and degree 2 EV charging stations deployed at public, non-public and residential areas. FLO operates its community throughout North America and our high-quality charging stations are assembled with care in Michigan and Quebec. To study extra about what “EV charging finished proper™” means to us, go to flo.com.
FLO® is a registered trademark of Providers FLO Inc.
SOURCE FLO
For additional info: Andrea Knapp,