The Cork-based ePower, an electric vehicle (EV) charging company, recently announced that it has raised €2m from private investors to further develop its products and support its sales and marketing teams. The funding round was oversubscribed and included a mix of new and existing investors.
ePower, founded in 2018, specializes in supplying, installing, and managing various types of EV chargers. They offer solutions for home installations as well as larger charging stations for public spaces, hotels, and apartments. The recent funding round is seen as evidence of the growing popularity and interest in EVs in Ireland.
The company has been actively expanding its operations in recent months. It recently completed the installation of 90 EV charge points at 13 hotels managed by Windward Management across the country. Additionally, ePower appointed John O’Keeffe as its CEO earlier this month.
O’Keeffe commented on the funding, expressing his excitement about the future of the EV industry in Ireland. He highlighted both the government’s goal of having 940,000 electric vehicles on the road by 2030 and the increasing public interest in EVs. O’Keeffe emphasized the importance of meeting the rising demand for charger infrastructure and providing the right solutions to address this demand.
In addition to developing its products, ePower plans to utilize the funding to support its sales and marketing teams. The company recognizes the importance of staying at the forefront of the EV revolution and aims to offer cutting-edge solutions that align with the evolving needs of consumers and the government’s plans for the industry.
The Irish EV charging market has witnessed significant activity recently. Cork-based smart-charging company Ohme secured a deal with Swedish car brand Polestar, and EV charging network start-up GoPlugable was named the overall winner of the 2023 Invent awards. Moreover, EV charging platform Monta became the exclusive software partner for Smartzone, supporting the latter’s goal of installing 25,000 EV chargers by 2025.
In conclusion, ePower’s successful funding round affirms the growing interest in EVs in Ireland and highlights the company’s commitment to developing innovative charging solutions. The funding will enable ePower to continue its expansion, meet the increasing demand for charger infrastructure, and support the continued growth of the EV industry in the country.
