Stowmarket company, EO Charging, continues global expansion as they become a publicly listed company in the United States
A company that provides electronic vehicle charging points to fleet operators is to become a publicly listed company in the United States.
EO Charging, based in Stowmarket, has been purchased by First Reserve Sustainable Growth Corporation.
The combination would see them become the first UK-based electronic vehicle charging company to be listed on public markets.
Charlie Jardine, founder and chief executive of EO Charging, said: "Our partnership with FRSG is a great step forward in EO’s already successful journey.
“Through this exciting combination, EO is positioned to accelerate our growth timeline, expand our geographic reach, and drive innovation to deliver an ever advancing suite of solutions to our fleet customers.
"We have developed an EV charging ecosystem that makes EO the ultimate plug-in charging partner for any business. We are proud of our established position across Europe, and are excited at the opportunity to expand our services to the global market."
EO Charging has become one of the leading companies in creating charging points for electronic cars. Since being founded in 2014, they have deployed an estimated 50,000 charging points to over 35 countries and work with some of the biggest fleet operators in the world, including Amazon, DHL and Uber.
The company ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies in 2021, the highest position of any company operating in the sector on the list.
As part of the global expansion, Mr Jardine would become CEO of the combined company. EO Charging would also continue to be stationed in Stowmarket.