A self-proclaimed “global pioneer” in electric vehicle (EV) charging infrastructure has seen the bulk of its workforce laid off after crashing into administration.
MEZIESBLOG understands that just 24 of EO Charging’s 93 employees have been retained by administrators at PricewaterhouseCoopers (PwC), who were brought in this week amid a cash crisis at the company.
EO Charging, which was founded by Charlie Jardine in a former pig shed in Suffolk, has counted Amazon and Tesco among its customers.
The company provides electric vehicle charging infrastructure, software and related repair and incident support services to its customers.
Its remaining employees will assist with the winding down of its operations.
EO Charging’s demise comes just four years after it was due to list its shares in New York in a deal valuing it at more than £500m.
In 2021, it was due to combine with First Reserve Sustainable Growth (FRSG), a New York-listed special purpose acquisition company (SPAC), in a merger that would have resulted in its shares becoming publicly traded.
The combination was expected to value EO Charging at about $675m (£509m).
The company has been backed by investors including Zouk Capital, which manages the government’s Charging Infrastructure Investment Fund, and Vortex Energy.
Last year, it raised fresh capital but failed to arrest its decline, triggering an emergency sale process launched several weeks ago.
In a statement issued to Sky News on Friday, PwC said EO Charging had “experienced challenging trading conditions in recent years”.
“The business has been loss‑making, following an overseas expansion into the US, Australia, New Zealand and Italy.
“In the second half of 2025, the group scaled back to the UK and refocused on its cloud‑based charge point management platform.
“Although additional funding was provided by shareholders and a successful fundraising round took place in the autumn of 2025, liquidity challenges resurfaced.”