SK E&S acquires US EV charging platform operator

SK E&S Co., the natural gas provider under South Korean conglomerate SK Group, said Thursday it has acquired a US electric vehicle (EV) charging platform operator as part of its push for green energy business.

The acquisition of EverCharge Inc., a California-based startup, also included the takeover of its management, the company said in a release, without disclosing the details of the transaction.

SK E&S said in a regulatory filing that it is investing $400 million in its US subsidiary to help it fund the acquisition and other investments in energy solution areas.

EverCharge, founded in 2013, is an EV charging solution provider that manufactures charging equipment and also operates charging stations. It currently operates about 4,600 charging stations across North America.

The acquisition will help it respond effectively to the rapidly growing EV charging market in the US and bolster its green business, SK E&S said.

SK E&S acquired Key Capture Energy, a US grid solution provider, and made equity investment in Rev Renewables, a US energy solution provider, last year, as part of efforts toward the transition to a "carbon-neutral" energy company. (Yonhap)