Pod Point, a pioneer in UK electric vehicle charging infrastructure, has been acquired by EDF for £10.3 million, significantly lower than its peak valuation of £352 million during its 2021 IPO. EDF, which already held a majority share, aims to stabilize the struggling company facing financial challenges with a 17% drop in revenue and increased losses. CEO Melanie Lane recognized the past year as a transition period while emphasizing a continued commitment to UK electrification and ongoing contracts with major brands despite the economic hurdles.
Pod Point’s acquisition by EDF for £10.3 million underscores the dramatic shift in the company's valuation, from £352 million during its 2021 IPO to a fraction of that.
CEO Melanie Lane noted that 2024 has been a 'transitional year' for Pod Point, facing challenges but still spotting a 'clear trajectory' towards UK electrification.
Collection
[
|
...
]