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Britain's Centrica invests in Israeli electric vehicle start-up

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By Reuters

LONDON (Reuters) – British utility Centrica <CNA.L> said on Monday it has made a multi-million pound investment in an Israeli start-up that develops software for electric vehicle charging solutions.

Israeli company Driivz has developed a cloud-based EV charging operating system that helps power network operators, car manufacturers and utilities manage charging and account billing, Centrica said.

Centrica said the investment will help it to explore new products for electric vehicle drivers.

Centrica is moving away from large centralised power generation – selling its last large power stations last year – and is instead increasing its services offerings.

Exact details of the investment were not given but Centrica said its investment is part of a wider 9 million pound (9.2 million pounds) funding round by Driivz.

(Reporting By Susanna Twidale; Editing by Susan Fenton)