From left: ePower co-founders Douglas and Hugh Corridor and CEO John O’Keefe. Picture: Colm Lougheed
The Cork-based firm lately expanded its operations to Dublin and says it’s at a ‘very thrilling stage of growth’ in each the EV and photo voltaic vitality sectors,
Electrical car (EV) charging firm ePower has raised €16m to broaden its operations within the coming years.
The funding got here from a mixture of present shareholders and new buyers together with a fund managed by Impax Asset Administration, a UK-based investor. The funding comes as ePower works to deliver its charging infrastructure to extra counties throughout Eire.
ePower helps within the set up, upkeep and administration of home, industrial and public EV chargers throughout Eire. It’s also concerned within the set up of photo voltaic panels throughout Eire.
The corporate has been rising steadily lately because of growing curiosity in EVs and the Authorities’s plans to spice up the variety of EVs within the nation. Final 12 months, ePower raised €2m to develop its merchandise.
The Cork-based firm opened a Dublin workplace earlier this 12 months to satisfy rising demand for its providers. ePower presently employs greater than 60 individuals nationwide.
“We’re at a really thrilling stage of growth at ePower in each the electrical car and photo voltaic vitality house, and this newest funding from quite a lot of stakeholders is a big increase as we proceed to put in charging infrastructure by way of private and non-private partnerships, and develop the photo voltaic aspect of the enterprise,” mentioned ePower CEO John O’Keefe.
“I’d prefer to welcome Impax to our group of buyers and thank them and our different stakeholders for offering this vote of confidence in our achievements thus far and ambition for the longer term.”
The funding into ePower comes amid a slowdown in EV gross sales in Eire. Current statistics from Eire’s Central Statistics Workplace exhibits the variety of new EVs licensed in Eire fell by 25pc within the first half of 2024.
A brand new report from EY suggests the most important concern amongst potential EV consumers is an absence of charging infrastructure, adopted by issues concerning the excessive prices of battery replacements.
Don’t miss out on the data you must succeed. Join the Each day Temporary, Silicon Republic’s digest of need-to-know sci-tech information.