Motieka & Audzevicius has advised In Balance Grid on its joint venture with Equite to develop charging station infrastructure.
In Balance Grid is an electric vehicles charging solutions provider. It manufactures, installs, and operates charging stations. Equite is a Baltic private multi-asset alternative investment firm.
According to Motieka & Audzevicius, “forming a joint venture is a strategic move for In Balance Grid in its journey to becoming the largest and leading operator of charging station infrastructure in the Baltics and Poland. The strategic partnership will allow it to share capital expenditure of the charging stations infrastructure with a reliable partner. The newly attracted investment will accelerate the expansion of In Balance Grid charging stations network. During 2023, In Balance Grid plans to expand its current network of 350 charging stations to 600 in the home market alone.”
In 2020, Motieka & Audzevicius advised In Balance Grid on a EUR 950,000 investment from Koinvesticinis Fondas, Contrarian Ventures, and several angel investors (as reported by CEE Legal Matters on April 30, 2020).
The Motieka & Audzevicius team included Partner Rokas Jankus and Senior Associate Laurynas Ramonas.