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WFW advises GP JOULE Connect on e-mobility joint venture with Renault’s MOBILIZE Power Solutions15 October 2021

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Watson Farley & Williams (“WFW”) has advised GP JOULE Connect GmbH (“GP JOULE Connect”) on its entry into an e-mobility joint venture with Renault’s charging service MOBILIZE Power Solutions. To be known as Elto DACH GmbH, the new joint venture will offer turnkey e-charging solutions, primarily for commercial fleet providers, across Germany, Austria and Switzerland. The aim is to improve the charging infrastructure for electric and plug-in hybrid fleets whilst reducing operating costs and simultaneously making an impactful contribution to climate neutrality.

Under the venture, all aspects of charging infrastructure projects will be covered, from the planning and installation of e-charging stations to their daily operation. The joint venture serves as a technology-independent point of contact for small and medium-sized enterprises as well as corporations.

GP JOULE Connect, a member of the GP JOULE Group, is a leading systems house for new mobility projects based on renewable energy. GP JOULE Connect plans, implements and operates charging infrastructure and offers other services relating to its core products including consulting, sharing/pooling, charging and energy management, mobility stations and carports.

This is the third time the WFW Germany team has acted for GP JOULE in connection with an M&A project, having previously advised them on the sale of their stake in H-TEC Systems GmbH and the entry of Minol-ZENNER managing director Alexander Lehmann as a new shareholder.

MOBILIZE Power Solutions is part of the Renault Group’s new mobility brand MOBILIZE and, in addition to Germany, Austria and Switzerland, is also active in Belgium, France, Italy, Luxembourg, the Netherlands, Portugal, Spain and the UK.

The multidisciplinary WFW Germany team advising GP JOULE Connect was led by Frankfurt Corporate Partner Dr Torsten Rosenboom. He was supported by Frankfurt Partner Frederik Lorenzen, Hamburg Partners Dr Christine Bader and Dr Nikolaus Krienke, Of Counsel Torge Rademacher (Hamburg) and Frankfurt Senior Associate Dr Matthias Murr, Associate Nicolas Persch and Frankfurt Transaction Lawyer Lotte Dillen.

Torsten comments: “We are very pleased to have advised GP JOULE Connect on this landmark project and been able to bring to bear our e-mobility sector M&A expertise to help it close smoothly. We would like to thank GP JOULE for having again placed their trust in WFW Germany”.

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