ePower Secures €16m Investment to Supercharge Ireland’s EV Charging Network and Solar Energy Expansion

Doug and Hugh Hall, co-founders and directors, with John O’Keefe, CEO of ePower. Photo: Colm Lougheed

The Cork-based EV charging company ePower recently expanded its operations into Dublin, marking what it describes as an "exciting stage of growth" in the electric vehicle (EV) and solar energy sectors.

With a substantial €16 million raised to fuel its future expansion, ePower is set to broaden its reach over the coming years. The funding was sourced from a combination of existing stakeholders and new investors, including Impax Asset Management, a UK-based firm. This investment will support the company's mission to extend its charging infrastructure across more regions in Ireland.

ePower specializes in installing, maintaining, and managing EV charging stations, catering to residential, commercial, and public needs throughout the country. Additionally, the company is a key player in solar panel installations, further driving its sustainable energy efforts.

In recent years, ePower's growth has been fueled by the rising interest in electric vehicles and governmental efforts to increase EV adoption nationwide. Last year alone, the company secured €2 million to advance its product development.

Earlier this year, ePower responded to the surge in demand by opening a new office in Dublin. Currently, the company employs over 60 individuals across Ireland as it continues to expand its services in line with the evolving market needs.

"We're at a very exciting stage of expansion at ePower in both the electric vehicle and solar energy space, and this latest investment from a number of stakeholders is a huge boost as we continue to install charging infrastructure through public and private partnerships and grow the solar side of the business," said ePower CEO John O'Keefe.

"I'd like to welcome Impax to our community of investors and thank them and our other stakeholders for providing this vote of confidence in our achievements so far and ambition for the future."

The recent investment in ePower arrives when Ireland sees a dip in EV sales. According to recent figures from the Central Statistics Office, the number of newly licensed electric vehicles in the country dropped by 25% in the first half of 2024.

A report from EY highlights that potential EV buyers' primary hesitation is the limited availability of charging infrastructure. Concerns about the expensive nature of battery replacements are closely followed, and both are critical challenges the industry must address to encourage wider EV adoption.