The GCK group raises 15 million euros

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29/09/2022

The Green Corp Konnection (GCK) group continues the deployment of its strategic plan with the completion of its first financing round of €15 million, bringing its equity to €25 million:

With this round of funding, Green Corp Konnection (GCK), a major player in the decarbonization of transport and a specialist in the retrofit of heavy goods vehicles, is entering a new stage of its growth.
This operation allows GCK to finalize its R&D phase, ensure the preparation of its 500 order intentions and intensify its mass production.
At the same time, the GCK Group is supporting its external growth with the acquisition of Solution F to develop hydrogen thermal engines.

Finalize the R&D phase

This fundraising, carried out from its historic shareholders, will initially make it possible to finalize the research and development phase. Since 2020, GCK has invested more than 12 million euros in R&D to offer its customers technological excellence in the field of clean mobility. GCK stands out in particular for its expertise in the field of retrofit, a solution which consists of replacing the thermal engine of a vehicle, whether gasoline or diesel, with a battery or a hydrogen electric motor.

Fulfill current orders

This operation comes as the GCK group has received 500 orders, pre-orders or indications of intention to retrofit vehicles from numerous private and public customers. These include Alpe d’Huez for the reconversion of its snow groomers; the Ginhoux transport company with its regular school buses; the Lake Annecy Boat Company for the first electric boats; and several local authorities, such as the Auvergne Rhône-Alpes region, where the GCK group is located. The funds raised will thus allow the company to intensify the mass production of heavy vehicles (buses, coaches, vans, trucks, boats, etc.) while pursuing more unique projects, such as the GCK e-Blast H2, the first 100% hydrogen competition vehicle, which will be driven by Philippe Croizon during the 2024 Dakar.

Supporting external growth

Finally, this fundraising supports the external growth operations of the GCK group, starting with the acquisition of Solution F, based in the South of France, announced in July. This will enable the development and production of new generation electric and hydrogen thermal engines, which will constitute a considerable step forward in the race for clean vehicles.

In 2022, the GCK Group will double its turnover to between 18 and 22 million euros and will go from 80 to more than 160 employees. A new industrial site for GCK’s main activities will be inaugurated by the end of the year.

Éric Boudot, Managing Director of GCK, declared: “This significant fundraising demonstrates the confidence of our historic shareholders in our project and confirms our role as a recognized retrofit player in France. It also illustrates the strength of our group which continues its industrial and technological development. After having invested heavily in R&D to develop innovative technological solutions, this fundraising will allow us to support our growth and intensify our mass production. In addition, with the acquisition of Solution F, we will be able to build hydrogen thermal engines, a considerable step forward for sustainable mobility.