Up to €150m · Debt · Energy · Maynooth, Ireland
Maynooth-headquartered EZO says it has reached financial close on an investment-grade, non-recourse senior debt facility of up to €150m to build public EV charging infrastructure across the UK and Ireland. Standard Life said it anchored €80m of financing originated and managed by Aberdeen Investments within the wider facility.
The capital is intended to finance the design, installation, operation and maintenance of more than 3,000 charge points, representing over 100,000 kW of capacity. Standard Life expects most of that infrastructure to be installed in the UK, with additional deployment in Ireland, over the next three years.
Financing a concession-backed charging rollout
EZO sells and operates public charging infrastructure rather than only supplying chargers. Its model combines charge-point installation and network operation with long-term contracts from public authorities. In northern Scotland, work has already begun to migrate 177 existing chargers to EZO's platform under a 20-year contract that is also expected to add 570 new charge points by 2028.
The financing is structured around those contracted assets. EZO says revenue from the new chargers will be ring-fenced to repay the debt over seven years, while several of the underlying concessions run for 15 or 20 years. That separates the financing from a conventional corporate loan: lenders are underwriting a defined portfolio of infrastructure and its expected cash flows, while EZO must still deliver the sites, secure grid access and keep the network reliable enough to generate usage.
The company says its signed UK local-authority charging contracts have a combined estimated value above £1bn, including concessions across four council areas in northern Scotland and four in the English Midlands. The estimate is a company projection of long-term electricity sales, not current revenue.
From EasyGo to a cross-border network
Founded in 2018 as EasyGo, EZO rebranded in 2025 as it expanded beyond Ireland. Its official reporting says the network serves more than 110,000 drivers, while the Scottish rollout is already moving council-owned infrastructure onto EZO's app and payment platform.
The new facility follows a €30m investment from Aviva Investors in 2023. Rubicon remains EZO's majority shareholder and advised on the latest debt and associated equity transactions. The commercial test now is execution: converting concession awards into installed, functioning charge points quickly enough for ring-fenced usage revenue to support the debt.
