Irish electric vehicle charging infrastructure company Ezo has reached financial close on a €150 million investment-grade, non-recourse senior debt facility to expand its charging network across Ireland and the UK. The financing will support more than 3,000 new charge points with over 100,000kW of capacity.
Key Overview
- Ezo has secured a €150 million senior debt facility to expand its EV charging network.
- The financing will fund more than 3,000 charge points across Ireland and the UK.
- The new infrastructure will represent more than 100,000kW of capacity.
- Ezo estimates the infrastructure could generate more than €1 billion in electric energy sales over 20 years.
- The company already operates more than 5,600 charge points and supports over 150,000 registered drivers.
- The financing was provided by a consortium including Aberdeen Investments and Standard Life.
- Ezo is expanding through public-sector contracts in the UK and partnerships with Musgraves and eir in Ireland.
Ezo Secures €150 Million for EV Charging Expansion
Irish electric vehicle charging infrastructure company Ezo has reached financial close on a €150 million senior debt facility to fund a major expansion of its charging network across Ireland and the UK.
The investment-grade, non-recourse financing will support the design, installation, operation and maintenance of more than 3,000 charge points, representing over 100,000kW of capacity.
Ezo estimates that the new infrastructure will generate more than €1 billion in electric energy sales over the next 20 years.
Headquartered in Ireland, Ezo already operates more than 5,600 charge points across Ireland and the UK and supports more than 150,000 registered drivers. The company said its network has delivered more than 30 million kWh of electricity.
UK Expected to Become Ezo’s Primary Market
Ezo expects the UK to become its primary EV charging market by 2027, building on a series of public-sector contracts.
The company has secured local authority-backed charging contracts in the UK with a combined estimated value of more than €1 billion.
These include a 20-year concession covering four counties in northern Scotland and a 15-year concession across four counties in the English Midlands.
The concessions include access to charging locations, flexible pricing, regional exclusivity in some areas, assistance with permits and grid access, and, in some cases, public funding to support infrastructure deployment.
Ezo CEO Ollie Chatten said the company’s ambition is to make reliable public EV charging more accessible to drivers and communities.
“Our focus is on working with strong public and private sector partners to build charging networks at scale across Ireland and the UK. The backing of our investment partners gives us the financial strength to deliver on those commitments, continue investing in our people and technology, and pursue the next generation of opportunities in the EV infrastructure market.”
Ezo Expands Irish Charging Network
Alongside its UK expansion, Ezo is developing its Irish network through partnerships with Musgraves and eir.
The Musgraves partnership will see high-powered charging infrastructure installed at 43 store locations along national routes.
Ezo and eir are also developing 50 purpose-built high-speed charging hubs across Ireland.
The expansion is expected to create additional employment in Ireland, Scotland and other parts of the UK as Ezo develops its charging network.
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New Financing Model for EV Charging Infrastructure
The €150 million debt facility has been provided by a consortium of lenders including Aberdeen Investments and Standard Life.
Ezo said the financing is believed to be the first of its type in which funds are being used to install EV chargers across both the UK and Ireland, with revenues from those chargers ringfenced to repay the debt over a seven-year period.
The company said the structure could provide a new financing model for EV charging infrastructure that is ready for installation.
Rubicon Capital Management and its affiliated entities are the majority owners of Ezo. Rubicon entered the company in 2020 with a 35% stake, which has since increased to more than 60%.
Rubicon also acted as sole financial adviser to Ezo in both its equity and debt capital raises. It has been retained by the company to explore other capital-raising options, including a possible IPO in 2028.
Rubicon CEO Conor Kelly said:
“This funding represents a significant vote of confidence in EZO, its team and the longterm infrastructure partnerships EZO has secured.”
He added that the financing framework was expected to become a preferred method of financing EV charging infrastructure.
Scaling EV Infrastructure Across Ireland and the UK
The financing gives Ezo additional capital to expand its charging network while continuing to develop partnerships across the two markets.
The company is combining public-sector concessions, private-sector partnerships and new financing structures as it develops charging infrastructure at scale.
With more than 3,000 additional charge points planned, Ezo’s expansion will increase the charging capacity available to EV drivers while supporting its growing network in Ireland and the UK.
Outlook
Ezo’s €150 million senior debt facility provides financing for the installation, operation and maintenance of more than 3,000 additional EV charge points across Ireland and the UK.
The company expects the UK to become its primary EV charging market by 2027, supported by local authority-backed concessions, while partnerships with Musgraves and eir will support further development in Ireland.
The financing structure, which uses revenues from the chargers to repay debt over seven years, could also provide a model for financing EV charging infrastructure. Ezo is continuing to expand its network and partnerships, while Rubicon explores additional capital-raising options, including a possible IPO in 2028.
FAQs
1. What is EZO’s €150 million debt facility for?
The €150 million financing will support EZO’s expansion of its EV charging infrastructure across the UK and Ireland.
2. How many EV charging points will EZO add?
EZO plans to deploy more than 3,000 new EV charging points as part of its expansion programme.
3. Who provided the financing to EZO?
The debt facility was provided by Aberdeen Investments and Standard Life, supporting EZO’s infrastructure development plans.
4. Why is EZO expanding its EV charging network?
The expansion is intended to increase charging capacity and support the growing adoption of electric vehicles across the UK and Ireland.
Sources: TechCentral.ie, businessplus.ie , Transport + Energy
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