Funding boost for concrete-based EV charging

Funding boost for concrete-based EV charging

Business news |
By Nick Flaherty

Magment in Oberhaching, Germany, has received investment from building materials firm Holcim.

Magment makes magnetisable concrete that can be used for road-based electric vehicle (EV) charging systems.

The two companies have jointly developed a concrete formulation that supports wireless inductive charging. This could be used for roads that can charge electric vehicles while in motion, or warehouses and factories where robots can be continuously recharged. 

“Holcim and Magment share a common goal: to accelerate our world’s transition to net-zero through innovative and sustainable solutions. By 2040 virtually every new car sold globally will be electric. We are excited to combine our magnetisable concrete with Magment’s technology in order to enable vehicles to charge as they move,” said Edelio Bermejo, head of Holcim’s global innovation centre.

“We are excited to reinforce our partnership with Holcim and welcome them as a cornerstone investor. Our work together will help advance inductive charging infrastructure to reinvent the way electric vehicles are charged, making it seamless, convenient and sustainable,” said Mauricio Esguer, CEO and founder of Magment.

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