InCharge Energy (“InCharge”), a leading provider of EV charging and energy solutions across North America, today announced a $46 million strategic investment led by S2G Investments (“S2G”), a multi-asset investment firm focused on energy, food & agriculture, and ocean system innovation, with participation from QIC, a globally diversified investment manager. The funding will support InCharge’s continued expansion beyond EV charging into broader energy solutions, including electrical infrastructure and distributed energy resources, backed by advanced software and its in-house national service organization.
While the total installed number of EV chargers is growing, existing units are aging and reliability is faltering. InCharge has built one of North America’s largest multi-brand EV charger service networks with more than 30,000 managed assets, serving major fleets, school districts, municipalities, and more. Unlike competitors that specialize in a single layer of the value chain, the company offers a fully integrated asset management platform, powered by its proprietary InControl™ software, that enables both fleet operators and charge point operators to deploy and sustain mission-critical networks at scale.
InControl is the operational backbone for InCharge’s connected charging and energy assets, giving customers a single platform to manage, operate, and maintain their entire energy and electrical infrastructure portfolio. It delivers best-in-class Charge Management System capabilities for EV charging infrastructure, including real-time charger visibility, network management, remote diagnostics, continuous monitoring, AI-driven issue resolution, fleet operations support, energy monitoring, and performance optimization. Together, these capabilities resolve roughly 80% of charger issues remotely, while InCharge’s in-house technicians provide fast, accountable on-site service when needed. Beyond EV charging, InControl serves as the system of record for warranties, service contracts, preventative maintenance programs, subscriptions, asset history, and operational data across battery energy storage systems, solar, transformers, switchgear, electrical distribution equipment, lighting, and other balance-of-power infrastructure.
Connected directly to InCharge’s 24/7 Network Operations Center, Support Operations Center, and nationwide field service organization, InControl combines asset monitoring, lifecycle management, and service operations in a single operational environment, adding automated workflow orchestration that validates service entitlements and coordinates response activities at scale. By connecting asset performance, service history, contractual coverage, and operational intelligence in one platform, organizations can maximize uptime, reduce operating costs, extend asset life, and simplify the management of increasingly complex energy and electrical infrastructure portfolios.
“EV charging was the entry point, but our customers increasingly need help operating more complex energy infrastructure,” said Rich Mohr, CEO of InCharge. “This investment from S2G accelerates our evolution into a full energy solutions provider and allows us to advance smarter technology and strengthen our service capabilities nationwide.”
“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,” said Bala Nagarajan, Managing Director at S2G. “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.”
The investment will be used to scale InCharge’s national field services division by growing its technician workforce and route density in key markets, accelerate development of the InControl software platform, and support the company’s expansion into broader energy solutions.
IMPROVED Corporate Finance served as exclusive financial advisor to InCharge, and Gunderson Dettmer LLP served as legal counsel to InCharge. Paul Hastings LLP served as legal counsel to S2G.
About InCharge Energy
InCharge Energy is a full lifecycle energy infrastructure partner, delivering EV charging, electrical and lighting, and distributed energy solutions. We support customers from initial concept and construction through long-term ongoing operations and maintenance. By providing one accountable partner across the energy lifecycle, InCharge Energy helps organizations operate more reliably, scale with confidence, and reduce total cost of ownership through best-in-class service and maintenance. More information is available at www.inchargeus.com.
About S2G Investments
S2G Investments is a multi-asset investment firm focused on scaling durable, market-defining businesses across food & agriculture, energy, and oceans. We provide capital and value-added resources to companies commercializing solutions designed to improve efficiency, resilience, and long-term value across industries powering the global economy. Through fit-for-purpose financing and a systems-focused investment approach, S2G is committed to driving measurable, sustained outcomes with tailored solutions that span late-stage venture, growth equity, structured finance, and infrastructure. For more information, visit s2ginvestments.com.
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