FreeWire Technologies Inc. said it has privately raised $125 million from investors including asset manager BlackRock Inc. to increase supply of its electric-vehicle chargers.
Oakland, Calif.-based FreeWire makes chargers that include embedded batteries for energy storage, a feature that the company says brings down costs and easily integrates with existing electric grids. The batteries and its software will enable FreeWire to also function as a clean-energy storage and services business. That will allow customers such as gas stations to manage their electricity usage and send excess power back to the grid, it says.
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