- Aviva Investors invests €30 million in Erapid Charger Company Limited, boosting Ireland’s EV charging network.
- Erapid operates over 4,000 charging points across Ireland and Northern Ireland, planning to roll out 3,000 fast chargers.
- The investment aligns with Aviva Investors’ green initiatives, contributing to the UK and Ireland’s net-zero goals.
Aviva Investors’ €30 million will contribute to up to 3,000 new charge points across Ireland’s EV charging network
Aviva Investors, the global asset management business of Aviva plc, has finalized a substantial €30 million investment in Erapid Charger Company Limited (Erapid).
Erapid is Ireland’s leading electric vehicle (EV) charging infrastructure specialist. The company trades in Ireland as CarCharger EV Limited and EasyGo. They operate the country’s most extensive private car charging network.
Erapid, founded in 2016, has emerged as a leading EV charge point operator in Ireland. The company manages over 4,000 charging points in 1,500 locations across Ireland and Northern Ireland. These charging points are accessible through the EasyGo app, which boasts a user base exceeding 50,000 registered drivers. Moreover, with an impressive monthly growth of approximately 2,000 new users in 2023, the company is set for significant expansion.
This funding injection is set to turbocharge Erapid’s growth trajectory. With plans to roll out more than 3,000 fast chargers, Erapid will play a pivotal role in Ireland’s EV transition. The investment is not just financial; it represents a stride toward fulfilling the UK and Ireland’s shared net-zero ambitions.
Adam Irwin, Fund Manager, Infrastructure Equity, at Aviva Investors, said:
“Our investment into Erapid is a terrific opportunity to invest into one of our home markets and support the growing Irish and Northern Irish EV charging sector. Ireland has some of the lowest public charger to EV ratios in the EU, giving potential for substantial growth in the platform as part of the transition from internal combustion engines and towards electric powertrains. We view this as a great opportunity for the money we look after on behalf of our clients to make a material contribution to delivering on the UK and Ireland’s net zero ambitions, whilst also meeting their long-term investment objectives.”
Chris Kelly, co-founder of Erapid, added:
“Today’s announcement will accelerate our mission to decarbonise transport, providing accessible and efficient EV charging solutions across the island of Ireland and into the UK. As Ireland’s largest owner and operator of charging stations, this strategic investment by Aviva Investors propels us into an exciting phase of growth. One of the immediate goals resulting from this funding is the significant expansion of our network, including the rollout of over 3,000 fast chargers. We will also be hiring for up to 60 new roles across operations, customer support and sales.”