Electric vehicle (EV) charging manufacturer EO Charging has secured funding totalling £13 million from a London-based investor.
The investment from Zouk Capital will be used to expand the company’s team, for product development and to roll out a “Charging as a Service” model, offering visitors charging infrastructure with no upfront cost.
EO designs and develops EV charging stations, with more than 5,000 manufactured at its headquarters in Suffolk and sells its products in 25 countries.
Founder and CEO Charlie Jardine said: “We’re currently witnessing a revolution in the automotive industry, one that’s akin to when the combustion engine took over from the horse and cart. EV chargers are more than ‘just a plug’, they’re the gateway to the future of mobility and the first piece of the puzzle in giving people energy autonomy.
“This investment will catapult EO into an exciting phase of growth and help us shake-up the rapidly growing EV charging industry.”