EO Charging (EO) is a British company that provides technology-enabled charging infrastructure for

electric vehicle An electric vehicle (EV) is a motor vehicle whose propulsion is powered fully or mostly by electricity. EVs encompass a wide range of transportation modes, including road vehicle, road and rail vehicles, electric boats and Submersible, submer ...

fleets. It designs and manufactures EV charging stations and hardware-agnostic cloud-based charge point management software. The company was founded in 2014 and is headquartered in the UK. EO's technology is used by a number of the world's largest businesses and fleet operators including

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and

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, and distributes to over 35 countries around the world. Other customers include

Sainsburys J Sainsbury plc, trading as Sainsbury's, is a British supermarket and the second-largest chain of supermarkets in the United Kingdom. Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company was the largest UK r ...

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and Go-Ahead. The company also partners with several manufacturers as a preferred charging partner for new vehicle customers, including

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vans. As of December 2021, EO has installed 60,000 charge points mainly in the UK, Ireland and Scandinavia. In 2020 EO's annual revenues were over £15 million. By December 2021 it employed 180 people.

History

EO was established in 2014, originally operating from a barn in Suffolk in the UK. EO derives its name from being originally called “Electricity Online”. EO's business model is primarily focused on vehicle fleets. As such, it developed products such as the EO Genius, a modular system designed to scale alongside a growing electric vehicle fleet. EO also designs and manufactures charge points for home charging. In 2020, the company launched the EO Mini home charger, which it claims is one of the smallest domestic electric vehicle chargers available, “smaller than an A5 piece of paper.” In April 2021, EO was chosen by Amazon to design, manufacture and install a network of electric vehicle charging stations in the UK to support the electrification of Amazon's delivery vehicles. It was also appointed to provide its charge point management software and maintenance services for Amazon's fleet across Europe, and is servicing 5,000 charging stations for Amazon. In October 2021, EO unveiled an integrated end-to-end charging ecosystem for electric commercial vehicle fleets. In October 2021, EO secured a deal to power Tesco's fleet of electric vans. Also in October 2021, EO launched an eBus division and software platform to support the electrification of bus fleets. In November 2021, EO announced its expansion into the North American market.

Investors

In 2018, EO received investment from a

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

investor, Zouk Capital, which helped to fund product development and international expansion. In 2021, EO announced an agreement for a business combination with First Reserve Sustainable Growth Corp, valuing the company at $675 million. However, this agreement was mutually terminated in March 2022, with the companies citing “unfavourable market conditions” as a factor.

References

{{Reflist Electric vehicles Charging stations