JEC sponsor JXTG Nippon Oil & Energy invests in JEC 2019 participant Virta
LONDON, 15 April 2020 – Virta, a global leader of electric vehicle charging platform technologies based in Finland, has received an investment from JXTG Nippon Oil and Energy Corporation, one of Japan’s major energy utilities, and signed a memorandum of understanding for cooperation. The capital injection accelerates both companies’ growth in the e-mobility sector and strengthens their positions in providing energy for mobility, while accelerating the global integration of the transportation and energy sectors.
Virta and JXTG were introduced during our 2019 edition of Japan Energy Challenge, a program aimed at building relationships and other forms of support for helping grow invited companies in Japan.
“JXTG is an influential partner for Virta. This investment triggers the launch of Virta operations in Asian markets with Japan as a spearhead and hence accelerates Virta’s transition from European to a global digital platform for e-Mobility” said Jussi Palola, CEO of Virta Ltd.
“This announcement is proof of the enormous potential for collaboration between Japanese and Western companies,” said Paul Monroe, director of the Japan Energy Challenge program. “Bridging the gap between the different business cultures and ensuring real projects are put together between our participants and sponsors is our main goal at Japan Energy Challenge. We anticipate that this is the first of many successful engagements and that Japan is quickly going to become the place to do business in the energy sector..”
For more information on the project visit Virta’s website here.