EO Charging completes £25M shareholder-led recapitalization

EVPowerInsights | November 4, 2025

ExecSum

EO Charging has completed a £25M recapitalization combining new equity from existing investors and an expanded debt facility with HSBC. The move reinforces confidence in EO’s strategic refocus and positions the company to accelerate its leadership in fleet electrification across the UK and Europe.

Why This Matters

Fleet electrification remains one of the most critical and capital-intensive segments of the EV transition. EO’s recapitalization and operational refocus reflect a broader trend among charging providers moving from hardware-heavy operations to scalable, software- and service-driven models.

Key Insights

  • £25M recapitalization led by existing investors Zouk Capital and Vortex Energy, alongside increased debt from HSBC.
  • Follows a strategic exit from the US and the sale of hardware operations to Cogent Technology, enabling a leaner, software-first business.
  • Marks a shift toward infrastructure-as-a-service (IaaS), focusing on commercial fleet and HGV depot charging solutions.
  • Funding to scale EO’s Charge Assurance™ platform, offering fleet operators advanced visibility and energy optimisation.

Our Take

This investment marks a maturing phase in the EV charging ecosystem where capital efficiency and digital scalability increasingly outweigh pure hardware expansion. By doubling down on software, services, and infrastructure reliability, EO is positioning itself as a long-term enabler of fleet electrification, aligning with investors seeking durable, service-led returns in the energy transition.