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EO Charging has partnered with Mercedes-Benz Vans to provide a comprehensive offering of electric vehicle (EV) chargers, management software, and maintenance services. This collaboration aims to support Mercedes-Benz Vans in achieving its goal of emission-free mobility, benefiting clients like Amazon and Hermes. Retail customers can receive free installations of EO chargers for home use, while fleets can purchase at favorable rates. EO's expertise includes rapid issue resolution across multiple sites, aligning with their vision of leading the EV charging market.
EO Charging has partnered with Tesco to electrify its UK home delivery fleet, aiming for a fully electric setup by 2028. The initiative starts with 30 electric vans already in action, and an additional 150 planned for 2022. EO will provide over 200 AC fast chargers and several DC rapid chargers across five sites to support this transition. This collaboration includes end-to-end support and management through EO Cloud software, optimizing fleet performance. Furthermore, EO recently announced a business combination with First Reserve Sustainable Growth Corp (NASDAQ: FRSG), expected to position EO as a public entity.
EO Charging has launched an integrated EV charging ecosystem aimed at electrifying vehicle fleets globally. This ecosystem includes EO Cloud, a charge point management software that connects various charging hardware and systems for efficient fleet management. Designed for scalability, EO’s solutions support diverse fleet types across Europe and the U.S., providing comprehensive services from consultation to 24/7 maintenance. EO’s technology is already utilized by notable corporations like Amazon and DHL, and it recently announced a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG).
EO Charging and First Reserve Sustainable Growth Corp. (FRSG) announced the filing of a public proxy statement/prospectus on Form F-4 with the SEC regarding their proposed business combination. The merger is anticipated to close in Q4 2021, pending stockholder approval and customary closing conditions. EO Charging, a provider of EV fleet solutions, aims to become a public company through this partnership. Founded in 2014, EO has gained recognition, ranking 27th on the Financial Times' list of fastest-growing companies in Europe.
EO Charging has appointed several senior executives as 'Heads of Markets' to fuel its international growth in the electric vehicle sector, focusing on key areas including Commercial Fleet and eBus/eTruck. The company reported tripled revenues in 2020, ranking 27th on the FT’s list of Europe’s fastest-growing firms. The new leadership aims to enhance EO's capability to penetrate the EV market, with a mission to lead in electric fleet charging. EO's planned business combination with First Reserve Sustainable Growth Corp (FRSG) will facilitate its public listing on NASDAQ.
Juuce Limited, trading as EO Charging, has announced a business combination with First Reserve Sustainable Growth Corp. (FRSG) to become a publicly listed company. This transaction, set to close in Q4 2021, implies a pro-forma enterprise value of $675 million and is expected to provide $222 million in gross proceeds. EO Charging specializes in technology-enabled EV solutions, having deployed around 50,000 chargers globally, serving major clients like Amazon and Uber. The merger aims to enhance EO's growth and innovation in the EV sector.
First Reserve Sustainable Growth Corp. announced that starting April 26, 2021, holders of the units from its initial public offering can separately trade shares of Class A common stock and warrants. The Class A common stock will trade under the ticker symbol FRSG, and the warrants under FRSGW on Nasdaq. Units not separated will continue to trade as FRSGU. Investors need to contact Continental Stock Transfer & Trust Company to facilitate this separation process. The Company is focused on sustainability and plans to engage in business combinations enhancing environmentally conscious solutions.
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