ePower, one of Ireland's largest charging solutions providers, has just raised €30 million worth of investment. The funds come from a combination of debt and equity, and have been raised through reinvestment equity from existing shareholders, management and Impax Asset Management, with debt funding from Dunport Capital Management - that last one being a first-time investor in the company.
What's ePower going to do with the cash?
Well, it's going to expand its charging infrastructure. ePower was one of the recent recipients of tenders for the Government's sports clubs charging scheme, and when CompleteCar spoke to ePower's head of sales, Ivan O'Connor recently, he told us that: “We have 50 sites just across Dublin that we're working on right now, all of them fast charging, and in our work pipeline alone, we're talking about many hundreds of fast-chargers across the country that will all be stood-up in the ground in the next 12 months. The fast-charging infrastructure in Ireland is going to look vastly different even by the end of 2025.”
Sounds good — so what are the plans?
ePower says that the new influx of investment will be put towards more than 200 fast-charging sites across the whole island. The company says that with the growth in EV sales this year (up by 37 per cent so far in 2025) there's a clear need for and expansion of charging, and ePower also says that it will continue to work on and promote the solar power side of the charging equation, to ensure that as much renewable energy as possible is put into the system.
What else do we know?
John O'Keeffe, CEO of ePower, said: “This is a real vote of confidence in ePower and our growth strategy. We've seen a significant rise in EV adoption in Ireland year on year, and 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.”
Meanwhile, ePower Chairman, Ciaran O'Brien, said, “This capital raise is a major milestone for our business. We would like to thank the team at ePower, our external advisors, funders and our shareholders for their support.”
How big a company is ePower?
ePower was founded in 2019, and it currently employs 70 people.