What’s Happening: EO Charging, a leading provider of electric vehicle charging solutions for fleets, has announced that it has secured $80 million in equity investment from Vortex Energy and Zouk Capital. The investment will accelerate the growth plans and global expansion strategy of EO Charging.
Why It Matters: The investment will allow EO Charging to further expand its fleet charging solutions business in North America and across Europe, while maintaining its position as a leader in the fast-developing UK market. The funding will also support the company’s path towards global leadership in EV fleet charging, as zero-emission transportation adoption continues to accelerate. This investment highlights the increasing demand for innovative and trusted suppliers of smart charging solutions for electric fleets, as businesses are under pressure to transition to zero-emission fleets.
Key Points:
- EO Charging has secured approximately $80 million in equity investment from Vortex Energy and Zouk Capital.
- The funding will support the company’s growth plans and global expansion strategy.
- EO Charging is focused on providing smart charging solutions for electric car, van, truck, and bus fleets, offering end-to-end solutions to help customers transition to electric at scale and pace.
- The company plans to expand its fleet charging solutions business in North America and across Europe while maintaining its position as a leader in the UK market.
- In 2022, EO launched its latest generation of EV chargers, the EO Genius 2 and EO Mini Pro 3, and most recently announced the creation of a new multi-source financing and services platform, MOBILITe.
- Vortex Energy is a global energy transition investment firm, while Zouk Capital is one of the UK’s leading investors in EV charging, managing the UK Treasury’s Charging Infrastructure Investment Fund (CIIF).
Bottom Line: The $80 million investment in EO Charging from Vortex Energy and Zouk Capital highlights the growing demand for smart charging solutions for electric fleets as businesses look to transition to zero-emission transportation. The funding will support EO Charging’s global expansion plans and accelerate its growth in the fast-developing markets of North America and Europe.
