Provider of fleet electrification solutions EO Charging has completed a £25 million shareholder-led recapitalisation.
The move aims to demonstrate the “continued commitment of its investors” and “provide a strong foundation for the company’s next phase of growth”, it said.
The funding follows a strategic restructuring, including EO’s planned exit from the US market and the sale of its domestic EV charger hardware and manufacturing business to Cogent Technologies, part of the Heathpatch Group.
It also said that the recapitalisation will see “company-wide efficiencies” to “streamline operations and support a more scalable platform-led business model”.
The firm will be focusing on software, services and infrastructure-as-a-service (IaaS) for commercial fleets and heavy goods vehicles. With increased investment in the development of truck hubs and logistics depots, EO is aiming to deliver scalable fleet-charging solutions across the UK and Europe.
Investment will also be used to accelerate the deployment of EO’s commercial-grade charging infrastructure and its software and service offering, Charge Assurance, which provides fleet operators with end-to-end visibility, management, and energy optimisation tools.
Richard Staveley, CEO at EO Charging, said:
“This investment underscores our shareholders’ confidence in EO’s evolved strategy and long-term vision. We are doubling down on what we do best: delivering reliable, commercial-grade charging infrastructure and intelligent software that helps fleets electrify and perform at scale.
“By concentrating our efforts on the UK and European markets, and exiting hardware manufacturing through the sale of our manufacturing business to Cogent Technologies, we are ensuring EO remains agile, capital-efficient, and relentlessly committed to improving fleet performance and delivering customer value.”
Massimo Resta, Partner and Head of Infrastructure at Zouk Capital, added:
“EO’s refocused strategy aligns perfectly with where the fleet electrification market is heading, towards scalable, software-enabled infrastructure solutions.
“We’re proud to continue supporting EO as it sharpens its focus on its core markets and technologies, building on its strong foundation and customer relationships.”
Bakr Abdel-Wahab, Chief Investment Officer at Vortex Energy, added:
“We believe the transition to electric mobility and smart infrastructure is no longer niche; it’s becoming foundational to fleet and bus operations across the UK and Europe. Our renewed investment in EO Charging reflects this conviction: by supporting a partner with a clear software- and service-first model. EO is well positioned for their next phase of growth and further strategic moves.”
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