The story behind why EnBW New Ventures invested in FLEXECHARGE

Have you ever read a podcast conversation?

Sure, most people listen to them. But some conversations are so sharp, so insight-packed, they deserve to be read, shared, and bookmarked.

This one’s with Pascal Beckers, Investment Principal at EnBW New Ventures—the venture arm of Germany’s largest integrated utility and the biggest operator of fast-charging stations. Pascal shares how EnBW is accelerating the electrification of mobility, why they invested in FLEXECHARGE, and what makes a scalable EV charging solution stand out.

Whether you're building in energytech, investing in grid-smart infrastructure, or tracking the future of electric mobility, this conversation offers deep, actionable insight from the front lines of the transition.

Scroll down to read the full interview.

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Intro & Context  

1. Welcome! Can you introduce yourself and your role in your venture arm?  

Hi, my name is Pascal Beckers and I'm an Investment Principal at EnBW New Ventures. My responsibilities cover the entire investment process from identifying potential investment opportunities, initial investment, portfolio management and hopefully a successful exit. It is always my goal to be an active sparring partner for the founders and to support them with my previous experience. I myself have been working in the startup ecosystem for more than eight years now. I started at a startup incubator and then moved into the venture capital industry. During my time in venture capital, my focus has been on B2B SaaS investments with a technical USP. We as EnBW New Ventures believe in three megatrends: Electrification, digitization, and decentralization. We invest in startups that support those and have digital business models around EnBW’s value chain. Our corporate  backer EnBW is the largest integrated utility in Germany and also the biggest CPO of fast chargers.

2. How did FLEXECHARGE first come to your attention? What intrigued you about the opportunity?  

I’ve been keeping an eye on the charging market for quite some time now, particularly exploring opportunities in truck charging. To deepen my understanding, I also had discussions with experts from EnBW’s mobility team about their key priorities and next steps. During these conversations, our colleagues introduced us to FLEXECHARGE’s innovative solution, which immediately caught my attention.

Additionally, as LPs at Vireo Ventures - a German seed fund focused on electrification startup who is invested in FLEXECHARGE - we received valuable insights from our partners, who are trusted sources for us.  

Ultimately, the FLEXECHARGE team impressed us with their complementary strengths and vision, solidifying our interest in the opportunity.

Motivations & Market perspective  

3. What’s your current outlook on the energytech/emobility space? Are there specific subsegments or value-chain positions you’re doubling down on?  

At EnBW New Ventures, we strongly believe in a future powered by fully electrified mobility, with renewable energy sources like wind, solar, and batteries driving energy generation. However, we recognize that the electrification of mobility is still in its early stages, and we anticipate significant growth in the years ahead. This growth will result in much higher utilization of both charging infrastructure and the power grids. That’s why we are actively exploring solutions that optimize the interface between charging infrastructure and the grid, making the existing systems smarter and more efficient.  

4. As institutional energy players, how does investing in companies like FLEXECHARGE support your broader strategic goals or energy transition mandates?  

We always aim to find and invest in the best startup teams with the best technologies on the market. On this basis, we then try to act as a trusted layer between our portfolio companies and the business units of our corporate backers. On the one hand, this helps our start-ups to gain EnBW as a potential large customer and EnBW to benefit from innovations on the market at an early stage. The positioning of Flexecharge is particularly exciting, as the clever system architecture allows the areas of EV charging, grid stability and trading to be combined.

5. How do you assess innovation potential when investing in software-defined infrastructure vs. asset-heavy models like hardware or grid infrastructure?  

EnBW does the heavy-lifting investing in the infrastructure building chargers, strengthening the grid and building pv parks.

We as the Corporate Venture capital arm look for software solutions making the existing systems smarter and more efficient, for example load management solutions, grid software solutions or trading solutions.
Last-Lademanagent, Grid Management, Trading

FLEXECHARGE & EnBW New Ventures fit  

6. What makes FLEXECHARGE a unique fit for your portfolio, especially in the context of smart grid solutions or demand-side innovation?  

Nordics are front-runner in the electric mobility transition. We looked specifically at solutions that are already in place in those markets to proof viable when Germany and other markets adjust.

Other than that of course the business model and team convinced us as investors!

7. What does success look like to you in this partnership? Are you contributing beyond capital—through pilots, integrations, etc.?  

First and foremost, we operate with a venture capital business model, aiming for strong VC returns. As the trusted link between entrepreneurs and EnBW, our focus is on identifying exceptional founders and successful business models that align with EnBW’s infrastructure priorities. Our role is to select the best startups in these areas while also opening doors to EnBW and fostering collaboration. In particular, our engagement manager, Markus, plays a key role in facilitating these partnerships

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Closing & Future outlook  

8. What advice would you give to startups in the EV charging ecosystem looking to raise funds right now?  

I’d say the choice of investors to partner with is crucial and depends on your specific goals. However, in general, it’s essential to focus on solving real-world customer problems and enhancing operations for CPOs, fleet managers, and depots. It’s equally important to have a deep understanding of the entire system, including the mobility and energy markets, and to seek out investors who grasp the complex interdependencies within these sectors.

If you match these criteria and are looking to raise a Series A round, send your pitch deck to dealflow@env.vc 😊

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