EDF Energy Customers has successfully completed the acquisition of London-based EV charge point operator Pod.
The £10.6m agreement follows the Pod board’s recommendation of the buyout offer from EDF in June, at which time EDF held a 53% stake in the company.
Pod has now been delisted from the London Stock Exchange, marking the completion of its transition to a privately held company.
This follows the rebrand of Pod Point to Pod in May and the launch of its new, all-inclusive home charging service.
The firm said its Pod Drive subscription cuts the up-front costs of installing a charger from £1,249 to £99, while rewarding customers with cashback of up to 7,500 ‘smart-charged’ miles per year.
A £40 Pod Drive monthly subscription includes a Solo 3S charger, installation and a 48-hour service level agreement.
Melanie Lane, CEO of Pod, said, “Joining the EDF family today marks a new era for Pod and an opportunity for us to build upon our years of collaboration with EDF.
“We will continue to work closely with our wider ecosystem of partners and customers to deliver on our commitment to help busy households with all their charging needs, while supporting Britain’s electricity grid.”
EDF said the acquisition reaffirms its commitment to strengthening Britain’s energy security by accelerating electrification and helping its customers save cash and carbon.
Philippe Commaret, Managing Director of Customers, EDF in the UK, said, “Pod has been a key player in the EV charging space and as a wholly owned subsidiary of EDF, will be well-positioned to thrive in a rapidly evolving market.”
