Gilbarco Invests in EV Charging Firm Driivz

Volvo Group Venture Capital also adds capital
Gilbarco Veeder-Root convenience store electric vehicle charging
Photograph: Shutterstock

GREENSBORO, N.C. Gilbarco Veeder-Root (GVR) has signed an investment agreement with Driivz, which specializes in electric vehicle (EV) charging and energy management products, maintaining its minority ownership position. Automaker Volvo has also become an investor in Driivz.

Driivz’s cloud-based software platform enables EV charging providers to grow their charging infrastructure. More than 700,000 drivers in more than 20 countries in North America, Europe and Asia use the company's products.

“Our continued partnership with Driivz has enabled GVR to expand our offerings in e-mobility infrastructure solutions across the world,” said Aaron Saak, president of Gilbarco Veeder-Root.  “We are pleased to have the Volvo Group join us as a new investor in Driivz and look forward to working closely with both partners in enabling a more connected and personalized e-mobility experience.”

“There is a significant and growing interest in electric vehicles and machines among Volvo Group customers, which is speeding up the transition to more sustainable transport,” said Erik Johansson, investment director of Volvo Group Venture Capital. “The collaboration with Driivz will play an important role in the Volvo Group’s efforts to help customers to electrify their transport solutions. We are impressed by the company and we believe the Volvo Group can add considerable value to the development of the business in the future.” 

“Driivz’s collaboration with GVR and Volvo Group is a testament to the strength of our technology and how it addresses the electrification needs of fleets, gas and oil companies and utilities under an integrated EV charging solution,” said Doron Frenkel, Driivz founder and CEO. 

Driivz recently announced its partnerships with MOL Group in Europe and Chile’s Copec Voltex as well as expanding its already existing partnership with EVgo, a fast charging network in the United States.

Greensboro, N.C.-based Gilbarco Veeder-Root specializes in retail and commercial fueling operations.

The key areas of investment for Gothenburg, Sweden-based Volvo Group Venture Capital are currently logistics services, site solutions and electrical infrastructure. The organization has a global scope, but currently focuses on Europe and North America.

Driivz, based in Hod HaSharon, Israel, is a global software supplier to EV operators and service providers. The company’s cloud-based platform spans EV charging operations, energy management, advanced billing capabilities and driver self-service tools.

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