EO Charging, a leading provider of electric vehicle (EV) charging solutions for fleets, has secured approximately US $80mn in equity investment from leading energy transition investment firm Vortex Energy, and Zouk Capital, to accelerate its growth plans and global expansion strategy. The two investors are coming together in a partnership that will support EO’s path towards global leadership in EV fleet charging as zero-emission transportation adoption accelerates.
IMPROVED acted as the exclusive financial advisor to Vortex Energy. Leveraging its deep understanding of market dynamics, business models, and valuations in the E-Mobility and EV charging domains, the IMPROVED team supported Vortex Energy on key transaction, valuation, industry and business plan considerations in the fund’s first investment in the EV charging sector.
Founded in 2014 by entrepreneur Charlie Jardine, EO is focused on smart charging solutions for electric car, van, truck and bus fleets. Its unique end-to-end solutions offer customers everything they need to transition to electric at scale and pace, no matter the size of their fleet – from smart fleet consultations, AC and DC hardware and cloud-based management software to depot installations, grid connections, and 24/7/365 operations and maintenance service.
"We’re super excited to welcome Vortex Energy as our new growth investor alongside our long-term and trusted partner, Zouk Capital. The combined knowledge, international experience, and funding capacity will accelerate our growth, expand geographic reach, and drive innovation to deliver an ever-advancing suite of solutions to our customers not only in the UK and Europe but in fast-growing markets like North America.”
Founder & CEO, EO Charging
“EV charging is a fascinating transformational industry. Major investments in charging infrastructure are needed to pave the way for a carbon-neutral world. Vortex is extremely happy to have partnered with EO as one of the leading providers of charging solutions in Europe. We are highly committed to supporting EO’s growth path alongside Zouk Capital, a reputable partner with a stellar track record.”
CEO, Vortex Energy
On behalf of the entire deal team at IMPROVED, continued: “With the switch to EVs amongst fleets set to accelerate, EO Charging, with its track record in providing sophisticated fleet charging solutions, is well-placed to continue enabling the electric transition at scale. It was a privilege to support the knowledgeable and forward-thinking team at Vortex Energy during this process. We congratulate Vortex Energy, Zouk and EO Charging on this significant fundraising round. For IMPROVED, this is the latest in a long line of transactions we have advised on across the EV charging value chain. Please contact our specialist team to discuss how we can best support you in achieving your strategic ambitions.”
Managing Director, IMPROVED