Australia’s electric vehicle (EV) charging sector could be approaching an inflection point for consolidation as operators seek greater scale, network utilisation and funding certainty amid rising EV adoption.

With Mergermarket data showing just one sector deal in Australia and New Zealand so far this year, intelligent transport company BRAUMS’ acquisition of Charge Boss in April, attention is focused on the sale process for public fast-charging network operator Evie Networks, which has attracted global interest and is expected to conclude this year, according to a June Mergermarket report.

Unlike many smaller operators, Evie has achieved nationwide scale and secured non-recourse project financing, making it one of the few Australian charging networks that infrastructure investors can evaluate as a mature platform asset.

Founded in 2017, Evie is backed by entrepreneur Trevor St Baker and the Royal Automobile Club of Queensland (RACQ), which holds an AUD 10m convertible note. The company first tested buyer appetite in 2023. In September, last year it strengthened its funding position by becoming the first Australian public DC fast-charging operator to secure a non-recourse senior debt facility, raising AUD 50m from Canberra-based Infradebt.

The financing marked a significant milestone for the sector, helping shift EV charging infrastructure funding away from venture capital and towards institutional and infrastructure debt providers.

Evie is reportedly attracting interest from trade buyers including Chargefox, owned by Australian Motoring Services (AMS), as well as private equity firms such as Five V Capital and infrastructure investors.

A successful sale of Evie, which reportedly generated approximately AUD 20m in revenue in the year ended 30 June, could provide the clearest valuation benchmark in years for Australian EV charging infrastructure assets.

Uneven deal flow

While deal activity in the EV charging sector has been relatively sporadic, several high-profile investors, infrastructure funds, private equity firms and energy retailers have made significant bets on the industry over the past five to six years.

Notable transactions include Pacific Equity Partners’ acquisition of a 70% stake in utility services provider WINconnect for less than AUD 100m in 2020. PEP reportedly generated a 7.2x return when Origin Energy acquired the business in 2021, excluding its embedded network metering division, marking one of the most successful realised investments in the sector to date.

In the same year, BlackRock Real Assets invested more than AUD 100m in JOLT Charge, then an emerging Australian EV fast-charging operator that has since expanded internationally.

Other landmark deals include Australian Motoring Services’ acquisition of Chargefox in 2022, valuing the company at AUD 56m, and Pacific Equity Partners’ acquisition of a 60% stake in EVSE Australia in 2023.

In 2024, French investment manager Mirova led a AUD 72m capital raise for JET Charge, while New Zealand-listed Genesis Energy acquired a 65% stake in ChargeNet for NZD 64m. That year also saw Adamantem acquire just under 50% of New Zealand charging hardware and software provider Evnex.

In 2025, AGL expanded its EV charging footprint through the acquisition of Everty for an undisclosed sum.

Source: Mergermarket, data correct as at 11-Aug-26

What to watch

Australia’s EV charging ecosystem remains fragmented, with around 20 major public and private network operators and dozens of smaller operators, niche charging networks, regional software providers, and hardware-software coordinators. Industry participants increasingly expect consolidation as operators seek greater scale, utilisation and network density.

JET Charge CEO Tim Washington believes the market is likely to support only a handful of scaled generalist players, alongside specialist providers focused on areas such as residential charging, fleets, trucks and buses. Washington told Mergermarket in May that the company could seek additional capital partners to support its next phase of growth.

Other potential transaction opportunities are emerging across several parts of the market.

Kerbside charging provider EVX told Mergermarket in April 2025 that it had rebuffed acquisition approaches, while multi-unit residential charging provider NOX Energy said in May that it was open to bringing in a strategic partner to accelerate growth.

Readysteadyplug is also evaluating its first external equity raise, and EV charging hardware and software specialist Earth EV told Mergermarket on 19 August that it believes it could attract interest from prospective acquirers.

With Australia’s EV charging market forecast by Next Move Strategy Consulting to grow from USD 453.9m in 2024 to more than USD 1.8bn by 2030, the sector appears poised for a significantly more active period of capital raising, investment and consolidation.

Australasia EV charging sector deal activity past seven years

Source: Mergermarket, data correct as at 11-Aug-26