Pod Point Regulatory News (PODP)

18 November 2024

Pod Point Group Holdings PLC (Symbol: PODP)

(the "Company", the "Group" or "Pod Point")

250,000 charge point network milestone passed

Pod Point becomes the first charge point operator in the UK to achieve network scale of a quarter of a million chargepoints

Pod Point Group Holdings PLC, a leading provider of Electric Vehicle ("EV") charging solutions in the UK, is pleased to announce its network of Energy Flex enabled chargepoints has now passed the 250,000 milestone, a unique achievement in the UK market.

Largest UK chargepoint network

Pod Point has the largest chargepoint network in the UK, having now passed a quarter of a million units, focused on the Home and Workplace market segments. The vast majority of the network can participate in Energy Flex without any technology upgrades. This makes Pod Point a significant, scale player in both regional and national markets for Energy Flex.

Participating in the Energy Flex market represents a "win-win-win": consumers are rewarded with cheaper and greener charging; partners reduce costs and avoid capex; and Pod Point generates high value recurring revenues.

Progressing towards one million customers

The Group set an ambition of having one million customers by 2030 as part of its "Powering Up" strategy. With its already significant scale in the UK market, achieving the milestone of 250,000 units is an important step on the journey to one million customers. 

Melanie Lane, Chief Executive Officer, said:

"Pod Point has a long-established track record of being a leader in the EV charging market. I'm thrilled that we have achieved another first by becoming the first network to have installed over 250,000 units for customers across the UK. We have achieved this with a Trust Pilot score of 4.4, demonstrating our commitment to excellent customer service. 

Our growing network size provides us with significant scale and relevance to the Grid and is an important part of our strategy for unlocking high margin recurring revenues for Pod Point."

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About Pod Point Group Holdings plc

Pod Point was founded in 2009. Driven by a belief that driving shouldn't cost the earth, Pod Point is building the infrastructure needed to enable the mass adoption of electric vehicles and to make living with an EV easy and affordable for everyone. As at 30 June 2024 the company has an installed base of 250k communicating charge points on its network in the UK and is an official charge point supplier for major car brands.

Pod Point works with a broad range of organisations and customers to offer home and commercial charging solutions.

Pod Point is admitted to trading on the London Stock Exchange under the ticker symbol "PODP."