Ampol Buys Evie Networks for $225M EV Charging Expansion

Ampol is set to significantly expand its electric vehicle charging footprint with a definitive agreement to acquire Evie Networks, Australia’s largest public EV charging infrastructure provider, for $225 million. This strategic move positions the fuel giant to capture a substantial share of the rapidly growing electric mobility market, integrating Evie's extensive network into Ampol's existing AmpCharge offering.

The transaction, which is subject to regulatory approval from the Australian Competition and Consumer Commission (ACCC), will see Ampol take full ownership of Fast Cities Australia, the entity operating as Evie Networks. Founded in 2017, Evie Networks has established itself as a key player, supported by significant early investment from entities like Trevor St Baker’s Energy Innovation Fund, which was its largest shareholder, having injected over $100 million. The company also benefited from crucial government backing, including a $15 million commitment from the Australian Renewable Energy Agency (ARENA) for its ultrafast charging site development, and a $50 million debt facility from Mike Cannon-Brookes-backed Infradebt in September 2025.

Upon completion, the acquisition will add Evie's 1,030 charging bays to Ampol's network, creating a combined infrastructure of approximately 1,425 bays spread across more than 400 locations. This consolidation is expected to create significant operational synergies. Ampol anticipates that its combined Energy Solutions and Evie operations will generate an annualised EBITDA of $30 million within three years post-acquisition, with roughly $10 million of that figure attributed to cost efficiencies. The company projects the integrated charging business will achieve breakeven by 2028.

The strategic value of Evie's assets lies not only in their current scale but also in their long-term potential. Evie's charging sites boast a weighted average remaining lease term of approximately 10 years, possess established grid connections, and in many cases, offer capacity for future expansion. Ampol CEO Matt Halliday highlighted the foresight of Evie's principal shareholder, Trevor St Baker, recognizing him as a pioneer in the Australian EV charging sector. Halliday emphasized that the acquired portfolio of well-situated sites with long-dated leases and robust grid access will become increasingly valuable as battery electric vehicle (BEV) adoption accelerates.

The Australian EV market is experiencing robust growth, with projections indicating a significant increase in BEV sales over the coming decade. This acquisition by Ampol reflects a broader trend of established energy and infrastructure companies investing heavily in EV charging infrastructure to secure future revenue streams and adapt to the energy transition. The deal, funded through debt, is slated for completion in the first half of 2027, following regulatory clearance. The full integration of Evie Networks into Ampol's operations is anticipated to take approximately three years.

This move by Ampol underscores the competitive nature of the EV charging sector, where scale, location, and grid integration are paramount. By acquiring Evie Networks, Ampol is not just adding physical assets but also acquiring valuable operational expertise and a significant market presence, aiming to solidify its position as a leader in Australia's evolving energy and transport ecosystem.