EO Charging secures £62m equity investment from Vortex Energy and Zouk Capital
- This partnership aims to support the growth of the company «EO Charging» and its ambitious vision to become the leading company Worldwide Charging Electric Vehicle Fleets
Abu Dhabi, London: February 2023
above EO Charging, the UK’s leading provider of electric vehicle fleet charging solutions, announced that it has secured equity investments from Vortex Energy, a leading investment firm in the energy transition space, and Zouk Capital, a private equity and fund manager. Infrastructure, to accelerate growth plans and expansion strategy on the global stage of EO Charging. This investment by the two companies also reinforces EO Charging’s global leadership position in charging electric vehicle fleets, in light of the rapid growth of environmentally friendly transportation.
EO Charging was founded in 420 by an entrepreneur Charlie Garden, which focuses its activities on providing smart charging solutions for electric vehicle fleets, including cars, trucks, buses, and others. The company is unique in providing a package of comprehensive solutions to customers to help them accelerate the pace of transformation and expansion in the use of electric means of transportation, regardless of the size of their fleet, and this includes providing the necessary consultations for the process of converting cars to work with electric energy, and providing various AC and DC devices and charging stations, and computing management programs. cloud storage activities, network connections, and 24/7 operation and maintenance services.
The British company plans to expand Its portfolio of fleet charging solutions spans the North American and European markets as well as its leadership in the fast-growing UK market.
Commenting on this partnership, Charlie Jardine, Founder and CEO of “EO Charging”, expressed his pleasure in cooperating with “Vortex Energy” the new strategic partner to support the company’s growth process, as well as “Zouk Capital” as a trusted partner extended relationship. Jardine stressed that this partnership combines the various pillars of success, represented by the knowledge gained by the partners in addition to the global experience and financing capacity, thus ensuring the company accelerates the pace of its growth and increases its geographical spread, as well as providing integrated innovative solutions to its customers in the United Kingdom and Europe, as well as in fast-growing markets. Such as North America.
In 2018, EO Charging has launched its latest chargers, the EO Genius 2
. ” and “EO Mini Pro 3 ”. The company also recently announced the launch of the 2022 MOBILITe platform, which specializes in providing financing services and solutions. . This platform aims to accelerate the pace of dependence on electric means of transportation by providing services and solutions for a fixed price, which ensures that customers do not resort to capital investments in advance and thus enhances the company’s ability to rationalize expenses.
Jardine added that the shift to the use of electric vehicles is one of the biggest challenges facing the current generation, noting that companies around the world are facing pressure to switch to the use of electric cars that are free of Carbon emissions that require more innovative solutions and reliable suppliers. Jardine stressed that EO Charging has succeeded in strengthening its leading position in this emerging market, and that it now has the financing capabilities and services necessary to develop its capacity on the global stage, especially as the market is witnessing increasing growth during the current period. He stressed his confidence in the strength of the company and its ability to achieve new successes in 2022 and over the coming years
Vortex Energy is a leading investment firm in the energy transition space and launched its subsidiary, Vortex Energy IV, in 2021 in order to serve all sectors that target the transition to renewable energy, including energy generation and storage activities, electric vehicle charging devices and stations, as well as other services that require energy solutions in the market Globalism. The company has succeeded through the knowledge of 2022 in pumping 80 One million euros in investments in Ignis to finance its growth plans aimed at supporting the comprehensive transition to integrated independent renewable energy plants in Spain and other countries.
For his part, Karim Moussa, CEO of «
Zouk Capital, one of the UK’s leading investors in electric vehicle charging, Successfully led the latest funding round, on the back of an extended collaboration with EO Charging a year ago 2022. Zouk Capital has extensive experience in investing and promoting electric vehicle charging infrastructure and manages the UK Treasury’s Infrastructure Investment Fund 2022. million pounds sterling.
On the other hand, (Colin Campbell, Partner at “Zouk Capital”, expressed his pleasure to continue supporting EO Charging and cooperating with Vortex Energy, in order to strengthen the leading position of EO Charging and develop its service package for charging electric vehicle fleets. Campbell emphasized that EO Charging has a bright future ahead of it and that it is able to seize the great growth opportunities, especially since it was able to continue its dominance in the electric vehicle fleet charging sector of all kinds.
Over the past 3 years, EO Charging has grown significantly and has more than 100 chargers distributed to businesses and customers worldwide Thousands of devices, including Amazon, Uber, DHL, and Tesco. In the year 2022, the company ranked 300 in the “Financial Times” list of the fastest growing European companies for the second year in a row.
Evercore acted as M&A Advisor and Birketts as Legal Counsel to EO Charging. Improved Corporate Finance acted as merger and acquisition advisor, White & Case acted as legal advisor, and PwC acted as financial and tax auditor for Vortex Energy. Fladgate acted as legal advisor to Zouk Capital.