Milence raises €120M to scale electric truck charging in Europe

Milence, the company developing an electric truck charging network, secured €120 million in new financing to support the roll-out of its charging hubs across Europe.

The company, a joint venture between Daimler Truck, TRATON GROUP, and Volvo Group, currently operates the largest public charging network for heavy-duty transport, operating 34 hubs across eight countries. The company says an additional 16 hubs are in various stages of development, with a total of 90 expected to be operational by the end of 2028.

The financing was provided by a consortium of partners, including funds managed by Edmond de Rothschild Asset Management’s infrastructure debt platform (BRIDGE), Íslandsbanki, Invest-NL, and Invest International. Íslandsbanki and Universal Investment, an AIFM of an additional lender, were also advised by Edmond de Rothschild Asset Management. This operation benefits from support from the European Union under the InvestEU Fund.

Accelerating the deployment of a charging network

“Securing this €120 million facility marks an important step in scaling our network across Europe and reflects strong momentum in the market. Electric road freight is not only central to decarbonizing transport but also a key pillar of Europe’s energy transition and independence, reducing reliance on imported fossil fuels while strengthening resilience and competitiveness. The technology is ready, the business case is emerging, and with continued momentum and policy support, we can scale this transition across Europe,” stated Anja van Niersen, CEO of Milence. 

This financing round complements the initial €500 million investment by the founding shareholders. The new funding will help Milence accelerate its mission to enable zero-emission road freight and speed up investment in new charging hubs.

“We are very proud to support Milence in delivering essential infrastructure that enables zero-emission transport in Europe. The Company’s strong sponsor alignment with the leading European truck OEMs and first-mover advantage in dedicated commercial truck charging make it well positioned in the accelerating electrification of heavy-duty logistics,” stated Shirley Chojnacki, Head of Energy at Edmond de Rothschild BRIDGE Platform, and Jean-Francis Dusch, CIO of BRIDGE.

Removing adoption barriers

The Amsterdam-based company is focused on delivering high-quality charging experiences for fleet operators, helping to remove key barriers to electric vehicle adoption in the heavy-duty segment. The company’s network supports both long-haul and regional transport, with hubs strategically located along major transport routes and equipped with advanced charging technology tailored to heavy-duty vehicles.

By leading the deployment of Megawatt Charging System (MCS) technology across three major hubs and advancing the first MCS corridor, Milence is ahead of the market, ensuring the right infrastructure is in place as demand scales.