EO Charging has secured £13 million funding to spark an “exciting phase of growth” for the electric vehicle charge point manufacturer.
The investment has been made by London-based infrastructure investor Zouk Capital, which is also an investor in rapid EV charging business InstaVolt.
EO Charging was founded in 2015 and designs and manufacturers EV charging stations for homes, fleets and destinations.
It is currently working with a number of organisations, such as Uber, Addison Lee, Google, Toyota Portugal, and Hampshire Police, to support their electrification plans.
To date, EO Charging has manufactured more than 5,000 charging stations at its headquarters in Stowmarket, Suffolk.
It currently sells its products in 25 countries and expects to grow rapidly over the next three years.
Charlie Jardine, founder and CEO of EO Charging, said: “We’re a small company with big ambitions and want to become the number one electric vehicle charging manufacturer, for homes, workplaces and fleets, globally by 2025.
“This investment will catapult EO into an exciting phase of growth and help us shake-up the rapidly growing EV charging industry.”
EO has developed a range of EV chargers including the EO Genius, a smart-enabled charge point that can connect to the EO Hub and communicate with the grid and be managed by the host.
The company is currently one year in to a Low Emission Freight Trial with electric final mile delivery firm Gnewt Cargo.
The project is funded by Innovate UK, Office for Low Emission Vehicles (OLEV) and supported by the Mayor of London and Transport for London.
EO is also part of ‘V2GO’ an Innovate UK funded consortium of eight organisations (including EDF Energy R&D UK, Oxford University, Oxfordshire County Council) to develop and trial vehicle-to-grid charging on a large scale.