Pod Point, one of the early pioneers in Great Britain in the charge of electric vehicles, was acquired by the French energetic EDF for only £ 10.3 million and marked a dramatic decline compared to his evaluation of £ 3521 when he hovered on the London stock exchange in 2021.

In the deal, which was announced together with the results of the overall year, EDF 6.5 Pence per share offers a 24% premium for the company’s share price before the transfer interest rates were published in April-far from its 225p exchange price less than four years ago.

EDF, which already had a 53% share of Pod Point, will now take over full control over the company company. The board of Pod Point said that the EDF offer was “the only realistic view of the business that continues as a going.

In the results of the year until December 31, 2024, Pod Point reported a decline in sales from 17% to 52.9 million GBP, while the losses before tax increased to 84.5 million GBP. The company accused a low trust of consumers, the printing costs and the persistent challenges with EV infrastructure investments for its financial difficulties.

CEO Melanie Lane admitted that 2024 was a “transition year” with a “disappointing financial achievement”, but claimed that there was still a “clear trajectory” for British electrification.

Pod Point was one of the so-called “class of 2021” a wave of technology and green energy companies that hovered during the Pandemie boom, only to see reviews in view of inflation, rising interest rates and the falling investor appetite for loss growth stocks.

Pod Point was founded in 2009 by Erik Fairbairn and was once considered the cornerstone of the British EV infrastructure rollout. Fairbairn resigned in July 2023 and handed over the reins to Lane when the company was looking for a new strategic direction.

Despite the financial headwind, the company signed new contracts with large brands such as Honda, Bupa, Taylor Wimpey, road manager and pensioner as well as extensive agreements with BMW and Jaguar Land Rover. In addition, the device network expanded 14% to 258,000 chargers and provided cost savings of £ 6 million.

According to EDF, the acquisition corresponds to its long-term EV strategy. Managing Director Philippe Commaret said that the business would deliver “stability and improved operational support” to reliably operate POD Point.

“Electric vehicles offer consumers the opportunity to save money and carbon,” added Commaret. “The electrification of transport, heat and industrial processes strengthens the UK energy safety and protects consumers from volatile prices for fossil fuels.”

Pod Point has played a key role in the support of the British EV rollout in the past ten years, but the acquisition shows the difficult economy of the EV infrastructure sector, in which high capital requirements, slow introduction and low short-term profitability remain sustainable for sustainable growth.

The sale also reflects the continued discomfort in the British public markets. Pod Point was one of more than 100 companies listed in London in 2021. Since then, the mood has been recorded according to the invasion of Ukraine in Russia, rising energy costs and continuing inflation. The London stock exchange has tried to win and keep growth companies because global investors are careful.

The withdrawal of POD Point to private property as part of EDF signals a possible wave of consolidation in the EV loading room, since smaller or early companies are looking for the stability of large supporters to survive a capital-intensive transition to electrified transport.