Ovo Energy has revealed its acquisition of the public electric vehicle (EV) charging app, Bonnet. The app claims to provide information on over 80% of UK charge points and facilitates payments at more than 27,000 chargers across 7,000 locations. Bonnet's user-friendly features allow EV drivers to access and pay for public charge points without the need for multiple cards or logins.
While the cost of the acquisition remains undisclosed, Ovo Energy aims to leverage Bonnet's capabilities to enhance its presence in the growing EV market. Mat Moakes, Chief Commercial Officer at Ovo, emphasized that the collaboration with Bonnet aligns with Ovo's commitment to encouraging more individuals to adopt electric vehicles and embrace sustainable lifestyles.
Patrick Reich, CEO and Co-Founder of Bonnet, sees the partnership as an opportunity to unlock new possibilities, including the introduction of innovative features and integrations for users. The acquisition follows Bonnet's public crowdfunding campaign in March, where it secured £3 million in equity from notable investors, including Google's investment arm GV, Tier Mobility, Wise, and Deliveroo.
Ovo's Charge Anytime, an intelligent charging add-on powered by Kaluza technology, has reportedly saved customers over £3 million in home charging costs since its launch earlier this year. The add-on optimizes charging schedules to align with periods of lower emissions and prices.
The move by Ovo reflects the ongoing consolidation and expansion within the EV charging ecosystem, as companies seek to enhance services, user experiences, and overall accessibility for electric vehicle users.