Irish electric vehicle charging company ePower has completed its biggest ever funding round, securing €30m of debt and equity.
The company said the €30m was raised through reinvestment equity from existing shareholders, management and Impax Asset Management with debt funding from Dunport Capital Management who are supporting ePower for the first time.
With offices in Dublin and Cork and a growing team of more than 70 employees, the company enables and promotes the growth of EV charging and solar solutions around the country.
It said its new funding will be used mainly to develop the network of ultra-fast charging in over 200 key sites on the island of Ireland.
The company said the growth in EV sales is accelerating, adding that customers are looking for the ease and confidence of fast charging on their journeys and at their destinations.
John O'Keeffe, CEO of ePower, said the company has seen a significant rise in EV adoption in Ireland year on year.
"These figures speak for themselves in terms of a public desire to move towards more sustainable energy and transport. We are delighted to again partner with Impax Asset Management, and to welcome our new funding partner Dunport Capital Management," he added.
ePower was advised by Goodbody, which has provided strategic support throughout the process, helping to secure investment.
ePower CFO's Frank Coombes said that securing the new funding to deploy into assets and key locations will drive the company's growth and accelerate the rollout of critical EV charging infrastructure.
