Virta

Trailmaker customer: JXTG Nippon Oil & Energy invested in EV platform Virta

Asia's leading integrated energy company JXTG has completed an investment in Finnish EV platform Virta. The partnership and investment are an important step in Virta's growth path in the global market. Virta has used Trailmaker to sharpen the strategy and its concrete implementation several times during the years.

Virta is a forerunner in electric vehicle charging platform technologies. The company provides b-to-b companies a digital platform that allows them to offer charging stations under their own brand. Over 300 customers with over 50 EV charging brands from 28 countries operate their EV charging services on the Virta platform.

JXTG’s investment will accelerate the growth of both companies in the e-mobility sector and strengthen their positions in providing energy for mobility.

“JXTG is a very important partner for Virta. The investment triggers the launch of Virta operations in Asian markets”, says Jussi Palola, CEO of Virta Ltd.

Virta and their technology have received several awards. This spring Financial Times, on their 2020 FT 1000 list, ranked the company as the fastest-growing electric vehicle charging platform in Europe. 

Success speeds up the second funding round, which is now ongoing. Virta is looking for co-investors among both industrial and private equity players in addition to the lead investor JXTG.

Virta ensures growth with Trailmaker‍

Virta and Trailmaker have worked closely together over the years.

“The regular Trailmaker process helps us summarize and review our strategy and specify the concrete path to implementate it”, says Palola.

An efficient and scheduled process that gives room for discussion suits well for Virta.

“Trailmaker’s carefully planned, iterative process gives rhythm to important considerations together and allows a systematic review of large entities such as customers, service offerings, sales and distribution. All this enables us to implement the strategy effectively.”

TRAILMAKER is a concept for strategy execution and execution due diligence:

• Concretizes and tests strategy execution through all business functions

• Concretizes and tests resources and competences needed in execution

• Creates a common view between management and owners in three days

• Forms a solid strategic management practice

8.6.2020