Qmerit Scores Investment From GIC For EV Charging Efforts

Irvine-based Qmerit, which installed electric vehicle charging stations in residential and fleet environments, has scored an investment from GIC, Singapore's sovereign wealth fund, according to Qmerit. Size of the investment was not announced. According to Qmerit, the investment by GIC came alongside an investment from earlier investors Lime Rock New Energy and Schneider Electric. Qmerit spun out of ABM in 2016. The company claims it has facilitated installations of "tens of thousands" of EV charging stations across North America. Along with the funding, GIC will gain a seat on Qmerit's board of directors. Qmerit is led by Chairman and CEO Tracy K. Price.