Published: 2021-07-05 09:16:52 CEST
Elmo Rent AS
Company Announcement

ELMO Rent and Eesti Energia are joining the forces in order to enter the European car sharing market

In order to enter the European car sharing market, ELMO Rent will cooperate with Estonian energy company Eesti Energia, who provides suitable charging solutions for ELMO Rent.

“One purpose of the public offering of our shares was to attract investments to support us in our preparations for entering the car sharing market of other European countries. This requires thorough preparatory work because investments in infrastructure and electric vehicles are very capital-intensive,” said Julia Nekrassova, CEO of ELMO Rent, which is now part of the Nasdaq Baltic market First North.

ELMO Rent uses the largest charging infrastructure in Estonia provided by Enefit Volt, so expansion to the new markets in which Eesti Energia Group is already active is a natural development from their existing good cooperation. “Car sharing is a growing market in Europe. Although there are several companies in various countries offering electric car sharing services, our innovative edge will be the first introduction of remote-controlled car technology,” Nekrassova said.

According to Margus Vals, Member of the Management Board of Eesti Energia, the transition to electric cars will be quicker than previously thought, but a real breakthrough requires good services.  “As an international energy company, it is our task to make efforts in all of our home markets – Estonia, Latvia, Lithuania, Poland and Finland – towards smarter solutions for our customers. We analyse new markets in order to offer charging solutions for electric cars and make it simple, comfortable and useful for clients to own electric cars,” Vals commented.

ELMO Rent and Eesti Energia have signed a cooperation agreement with the joint objective of analysing and validating suitable locations for Enefit Volt to offer electric car charging solutions for ELMO Rent so that the latter can expand its sharing business.

 

About the company:

ELMO Rent is an Estonian company founded in 2013 by the Republic of Estonia and run privately since 2017. The main field of activity of this actively growing company is the provision of environmentally friendly vehicle sharing services and the development, launching and scaling of related green and innovative technology, such as a vehicle fleet IT operation system, an automatic controller and a remotely controlled vehicle.  

ELMO Rent is one of the first electric car sharing companies in the world and the first vehicle rental company in Estonia with the Responsible Business Quality label.

Enefit Volt offers smart and user-friendly charging solutions for homes and businesses. In addition to providing smart charging solutions for private and business clients, Enefit Volt is Estonia’s largest fast-charging network for electric cars, comprising 185 public chargers all over Estonia; the network is constantly expanding and developing. The Enefit Volt network can charge both European (CCS) and Japanese (CHAdeMO) charging standard vehicles, and the universal Type2 charging cables are also available.



Julia Nekrassova

CEO
ELMO Rent AS 

Tel: +372 516 7991
E-mail: 
julia@elmorent.ee