Irish charging operator EZO has raised €150 million in senior debt to grow its network in the UK and Ireland. The capital will support the design, installation, and maintenance of over 3,000 charging points with a total capacity exceeding 100 MW.
The infrastructure rollout relies on long-term concessions with public-sector partners. EZO projects that these installations could generate over €1 billion in electricity sales during the next 20 years, with a portion of the revenue shared with the public sector.
A consortium including Aberdeen Investments and Standard Life provided the funding. The debt structure involves ringfencing revenues from the new infrastructure to repay the loan over seven years, a model the company expects to become a standard for the sector.
EZO is expanding its presence in the UK, following a £176 million contract signed in June to deploy 250 rapid and ultra-rapid chargers across four Midlands councils. This 15-year project aims to serve more than two million residents in the region.
In addition to the Midlands project, the company recently initiated the deployment of its charging network in North Scotland. CEO Ollie Chatten stated that the new financial backing provides the necessary resources to scale operations across both markets.
