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Friday, Dec 9, 2022
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SHELL ACQUIRES ELECTRIC VEHICLE CHARGING OUTFIT

Royal Dutch Shell’s New Energies division has acquired West Hollywood-based Zeco Systems Pte Inc., doing business as Greenlots, for an undisclosed sum. Zeco, operating in West Hollywood, developed a network of charging infrastructure for electric cars that includes a mobile app for drivers to pinpoint nearby charging ports and monitor energy usage. “Our technology, backed by the resources, scale and reach of Shell, will accelerate this transition to a future mobility ecosystem that is safer, cleaner and more accessible,” said Zeco Chief Executive Brett Hauser. Zeco was established in 2008. Prior to the acquisition, the company raised roughly $15 million. It counts New York-based Energy Impact Partners, Asia Cleantech Capital Pte Ltd., SBI Ven Capital Pte Ltd., and angel investor Adrian Koch among its financial backers.

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