Private equity investor Panoramic has sold electric vehicle charging network Pod Point to French energy company EDF.
Pod Point was established in 2009 and provides home charging, commercial and workplace charging solutions. Panoramic invested £2.25 million in Pod Point in June 2018 and since then the business has grown strongly with operations in the UK and Norway.
Stephen Campbell, Partner at Panoramic, said:“We are delighted that Pod Point’s vision of how a low carbon infrastructure can be achieved has been recognised with this acquisition by EDF. It has been a pleasure to work with Erik Fairbairn and his team since we invested in 2018. Our investment was driven by a belief in what the company was trying to do in reducing harmful air pollution, particularly in major urban areas, together with the attractive high demand/restricted supply dynamics that we look for in any Panoramic investment.”
Erik Fairbairn, CEO and Founder of Pod Point, added: “Our shareholders believed in our vision that travel shouldn’t exacerbate carbon emissions and I’m delighted we can repay them with a return on their investment. This is an incredibly exciting next chapter for Pod Point. We set out in 2009 with the vision that travel shouldn’t damage the earth and a mission to put a charge point everywhere you park. So far, we have made great progress towards those goals.”
