InCharge Energy has closed a $46 million strategic investment led by S2G Investments. With participation from globally diversified investment manager QIC, it brings fresh capital that signals growing institutional confidence in tech-enabled energy infrastructure services.
IMPROVED Corporate Finance acted as exclusive financial advisor on the transaction, running a competitive process that drew interest from financial sponsors and strategic investors across the US and Europe.
The Los Angeles-based company, which provides EV charging and energy solutions across North America, will use the funding to accelerate its expansion into electrical infrastructure and distributed energy resources, underpinned by its proprietary software platform and in-house national service network.
The deal comes at a pivotal time for the EV charging sector. Roughly half of non-residential EV chargers in the United States now sit outside of their manufacturer warranties, and the maintenance gap is widening across broader energy infrastructure. InCharge has positioned itself to fill that gap at scale, with its platform managing over 30,000 energy assets, resolving up to 80% of issues remotely, and supporting more than 20 hardware OEM partnerships.
Rich Mohr, CEO of InCharge Energy, commented:
“The team at IMPROVED Corporate Finance played a critical role in helping InCharge Energy secure a strategic investment that strengthens our balance sheet and supports our long-term growth strategy. Throughout the process, they demonstrated exceptional financial expertise, strategic thinking, and relentless execution. Having partnered with them on both buy-side and sell-side transactions, I can say without hesitation that they are among the most effective advisors I have worked with. They understand how to create alignment among stakeholders, drive complex transactions to completion, and consistently deliver outstanding outcomes for their clients.”
Bala Nagarajan, Managing Director at S2G Investments, added:
“Demand for reliable, tech-enabled network operations will only intensify as the installed base of chargers and distributed energy resources continues to expand and mature. We believe InCharge is exceptionally well-positioned to capture that shift and move the industry from reactive, break-fix maintenance to proactive, performance-driven management. We’re looking forward to supporting the team on its next chapter of growth.”
Daniel Lyons, Managing Partner at IMPROVED, said:
“InCharge has built something rare in this market: a genuinely integrated platform combining software, service, and national scale. Rich and the team have a clear vision for where the energy infrastructure services market is heading, and this investment from S2G gives them the capital to execute on it. This was a competitive and complex process, and we are proud to have delivered a strong outcome. It was a privilege to advise the company on this transaction.”
