The company secured fresh funding from new and existing investors to develop its various charging products.
Electric vehicle (EV) charging company ePower has raised €2m from private investors to further develop its products.
The oversubscribed funding round included a mix of new and existing investors. The Cork-based company said the funding is evidence of the growing popularity and interest in EVs in Ireland.
Founded in 2018, ePower supplies and installs various types of EV chargers, from smaller home installations to larger public, hotel and apartment charging stations.
The company has had a busy period, as it recently installed 90 EV charge points at 13 hotels around the country run by Windward Management. Earlier this month, ePower also appointed John O’Keeffe as its CEO, RTÉ reports.
Speaking on the latest funding, O’Keeffe said growing consumer interest and Government EV plans make it an exciting time for the industry.
“The government wants 940,000 electric vehicles on the road by 2030, so there will be huge demand for charger infrastructure in the near future.” O’Keeffe said. “As well as that, the public is embracing EVs more and more so the challenge is to meet demand and offer the right solutions.
“Securing funding from our investors will enable us to stay at the leading edge of this revolution in how we travel in our day-to-day lives.”
As well as developing its product offering, ePower said the new funding will also support the company’s sales and marketing teams.
There has been a clear push in the Irish EV charging market recently, with Cork smart-charging company Ohme securing a deal with Swedish car brand Polestar earlier this month.
Last week, EV charging network start-up GoPlugable was named the overall winner of the 2023 Invent awards.
Earlier this year, EV charging platform Monta became the exclusive software partner for Smartzone, to support the Irish company’s growing EV charging infrastructure. Smartzone plans to install 25,000 EV chargers by 2025, which will all be supported by the Monta platform.
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