British electric vehicle (EV) fleet solutions provider, EO Charging, has secured approximately $80 million in equity investment from Vortex Energy and Zouk Capital to fund its US expansion.
The company is known for its stronghold in the UK market, with clients including Amazon, DHL, Uber, and Tesco, and has been listed among the fastest-growing companies by the Financial Times. EO Charging says it has deployed over 80,000 chargers to businesses and consumers globally, and it takes a leading position in the UK.
Founded in 2014, EO Charging ranked 45 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies for the second year running in 2022. The company announced plans with Energy to install at least 50,000 EV charge points at British schools, colleges, and universities by 2030.
EO Charging’s plans to expand its fleet charging solutions business in North America have reportedly been launched since early 2022. The new investment will support the company’s “path towards global leadership in EV fleet charging,” according to the company.
The two investors, Vortex Energy and Zouk Capital, will accelerate EO Charging’s growth, expand its geographic reach, and drive innovation to deliver an ever-advancing suite of solutions to its customers not only in the UK and Europe but also in fast-growing markets like North America, said Charlie Jardine, Founder & CEO of EO Charging.
The company offers AC and DC hardware and cloud-based management software to depot installations, grid connections, and 24/7/365 operations and maintenance services. It launched the latest generation of EV chargers, the EO Genius 2 and EO Mini Pro 3, in June 2022 and most recently announced a new multi-source financing and services platform, MOBILITe, to help fleets accelerate EV adoption via a fixed-price as-a-service solution. EO Charging distributes its hardware to over 35 countries.
