UTU Becomes Shareholder of IGL Technologies Developing EV Charging Solutions

UTU Group has participated in a share offering of IGL-Technologies Oy, which develops solutions for electric vehicle charging. Through this offering, UTU purchased shares from the current owners and obtained 17% ownership of the company’s equity. Following the share offering, UTU is now the third largest shareholder of IGL.

Electricification of transport is set to continue its growth in the coming years. UTU is already strongly involved in the charging solution´s market for electric vehicles, and the company plans to significantly expand this business area. By early 2023, UTU’s product development completed with new solutions for charging electric cars. IGL is a strong player in the field with its digital solutions and software expertise. Through collaboration between UTU and IGL, customers will receive a comprehensive solution that includes charging stations, charging management software, and specially designed electrical switchboards for charging.

”UTU and IGL have done great work in collaboration by providing customers with intelligently managed charging solutions. Over the years, IGL has grown its operations strongly and profitably. As a strong player in the electrical industry, UTU wants to support this growth story and be part of creating even better conditions for both IGL’s and UTU’s growth,” says Olli Heinonen, CEO of UTU.

“IGL Technologies specializes in smart parking and its intelligent management, including smart heating and charging stations. Our products are eParking and eTolppa. Our partners can take advantage of our solutions on the software side, and we at IGL can utilize our partner’s charging systems with accessories in our implementations. We welcome UTU now also as a shareholder to IGL’s journey,” says Alexander Ivaine, CEO of IGL Technologies Oy.

More information

UTU Oy is a leading Finnish provider of electrical and automation products and services with over 100 years of history, having subsidiaries in Finland as well as in Estonia, Latvia, Lithuania and Norway. In 2022, the company had a turnover of 53 MEUR and 180 employees.

IGL Technologies Oy is a software design company founded in 2009 and specialized in remote-controlled devices that facilitate heating, charging and parking of cars. Their product portfolio includes eParking.fi and eTolppa solutions with over 210,000 users, 40, 000 installed eTolppas, and 50,000 parking spaces. https://igl.fi/

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