- The mobility and transportation veteran brings over three
decades of global leadership experience to help guide EO’s
continued growth and innovation
- The UK’s leading provider of charging solutions for electric
vehicle fleets already supports customers like Amazon, DHL, Uber
and Tesco
- EO recently announced that it is expanding into the U.S. market
with a focus on private and public fleet operators
EO Charging (“EO”), a leading UK-based provider of
technology-enabled turnkey solutions for electric vehicle (“EV”)
fleets, today announced its appointment of Mark Joseph as Chairman
of the Board upon completion of EO’s business combination with
First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is
expected in the first quarter of 2022.
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The appointment of Joseph, former Transdev North America and
Veolia Transportation CEO, follows EO’s expansion into the U.S.
market as the company plans to further extend its success in Europe
and the UK. EO will look to leverage Joseph’s experience and
expertise to capitalise on the growing demand for EV charging
solutions worldwide, and especially in the U.S., as Congress
recently passed the country’s $1.2 trillion infrastructure
bill.
“The U.S. market is experiencing incredible tailwinds, with the
recently announced infrastructure bill and national and state level
initiatives providing a massive opportunity for our charging
ecosystem to thrive as we grow with our customers,” said Charlie
Jardine, EO CEO and Founder. “With Mark Joseph joining our
Board as Chairman, EO adds another industry expert whose
significant experience and guidance will help propel the company in
both the U.S. market and globally.”
Joseph has over 30 years of leadership experience with both
public and private transportation organisations across the U.S.,
Canada, UK, Ireland, and South America. In his most recent role as
CEO and Founder of Mobitas Advisors, a leading Washington-based
advisory firm working with growth-stage companies in the mobility,
automotive and energy sectors, Joseph’s strategic approach and
management capabilities have helped shape companies into leading
regional, national and global forces. While at Mobitas, Joseph has
advised disruptive software and technology companies like 4mativ,
Axilion, Optibus and Rubicon, as well as VCs like Early Light and
Next Gear.
Prior to joining Mobitas Advisors, Joseph served as the global
Chief Commercial Officer for the Transdev Group, following an
11-year stint as CEO and Vice-Chairman. The Transdev Group is a
leading private provider of transportation services – including
bus, commuter rail, streetcar, light rail, paratransit, taxi,
shuttle, and black car. Over more than 17 years at Veolia and
Transdev North America, Joseph grew the business from $50 million
to $1.5 billion in annual revenue. He served over 200 contracts
with cities, counties, airports and universities working with a
multi-continental workforce of over 20,000 employees.
“When Charlie asked me to join as Chairman of the Board, it was
an easy decision,” said Joseph. “I’ve been following EO
closely and what they’ve been doing in the European and UK markets
when it comes to EV fleet charging has been very impressive. I
believe that there will be a continued movement from personal
ownership to fleet ownership and EO is extremely well-positioned to
help fleets make this transition. The company’s fleet charging
ecosystem is second to none and I’m excited to be a part of the
team as they expand into new markets.”
The incoming Chairman of the Board has strong relationships
across the U.S. with local and national political and
transportation leaders, as well as labour and community leaders. He
also has global relationships based on his experience as Global
Head of Development at Transdev (20 countries) and as an investor
and advisor in international funds and businesses, including
recently joining the board of First Transit North America (EQT), as
well as being a member of the SAFE board (Securing America’s Future
Energy).
Joseph’s appointment comes on the back of considerable growth
for EO, which, despite the pandemic, saw its revenues triple and
headcount double in 2020. Earlier this year, EO was ranked number
27 on the FT’s list of Europe’s fastest growing companies, the
highest-ranked business in the EV sector. With a bolstered
international team and blue-chip customers such as Amazon, DHL,
Go-Ahead, Tesco and Uber, along with a pilot demonstration project
in California for a global logistics leader - EO forecasts
significant growth in 2022.
EO Charging previously announced an agreement for a business
combination with First Reserve Sustainable Growth Corp. (NASDAQ:
FRSG), which is expected to result in EO Charging becoming a public
company listed on the NASDAQ exchange.
About EO
EO Charging (EO) is a leading technology solutions provider in
the EV sector. EO deploys EV charging stations, hardware-agnostic
cloud-based software, electrical installation, grid upgrades and
ongoing service and maintenance for fleets. EO also provides this
end-to-end solution for fleets that require mission critical
infrastructure.
Founded in 2014, EO’s technology is used by a number of the
world’s largest businesses and fleet operators and it now
distributes to over 35 countries around the world. It aims to
become the global leader in charging electric van, truck, bus and
car fleets.
EO Charging previously announced an agreement for a business
combination with First Reserve Sustainable Growth Corp. (NASDAQ:
FRSG), which is expected to result in EO Charging becoming a public
company listed on the NASDAQ exchange.
EO was ranked number 27 on the Financial Times’ FT1000 list of
Europe’s fastest-growing companies. To learn more, please visit
www.EOcharging.com and follow us @EOCharging on Twitter and
LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking
statements". All statements, other than statements of present or
historical fact included in this press release, regarding the
proposed business combination between First Reserve Sustainable
Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO
Charging (“EO”), each of such parties’ ability to consummate the
transaction, the benefits of the transaction and the combined
company's future financial performance, as well as the combined
company's strategy, future operations, estimated financial
position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this press release, the words "could,"
"should," "will," "may," "believe," "anticipate," "intend,"
"estimate," "expect," "project," the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management's current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, FRSG, the Company and EO disclaim any duty to
update any forward-looking statements, all of which are expressly
qualified by the statements in this section, to reflect events or
circumstances after the date of this press release. FRSG, the
Company and EO caution you that these forward-looking statements
are subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
any of FRSG, the Company or EO. In addition, FRSG, the Company and
EO caution you that the forward-looking statements contained in
this press release are subject to the following factors: (i) the
occurrence of any event, change or other circumstances that could
delay the business combination or give rise to the termination of
the Business Combination Agreement and Plan of Reorganization,
dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub
Inc., EO and the Company, and the other agreements related to the
business combination (including catastrophic events, acts of
terrorism, the outbreak of war, COVID-19 and other public health
events), as well as management’s response to any of the foregoing;
(ii) the outcome of any legal proceedings that may be instituted
against FRSG, the Company, EO, their affiliates or their respective
directors and officers following announcement of the transactions;
(iii) the inability to complete the business combination due to the
failure to obtain approval of the stockholders of FRSG, regulatory
approvals, or other conditions to closing in the transaction
agreement; (iv) the risk that the proposed business combination
disrupts FRSG's or the Company's current plans and operations as a
result of the announcement of the transactions; (v) the Company's
and EO’s ability to realize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition, the pace and depth of EV adoption generally, and the
ability of the Company to accurately estimate supply and demand for
its EV charging products and services, and to grow and manage
growth profitably following the business combination; (vi) risks
relating to the uncertainty of the projected financial information
with respect to the Company, including the conversion of pre-orders
into binding orders; (vii) costs related to the business
combination; (viii) changes in applicable laws or regulations,
governmental incentives and fuel and energy prices; (ix) the
possibility that the Company may be adversely affected by other
economic, business, and/or competitive factors; (x) the amount of
redemption requests by FRSG’s public stockholders; and (xi) such
other factors affecting FRSG that are detailed from time to time in
FRSG’s filings with the Securities and Exchange Commission (the
"SEC"). Should one or more of the risks or uncertainties described
in this press release, or should underlying assumptions prove
incorrect, actual results and plans could differ materially from
those expressed in any forward-looking statements. Additional
information concerning these and other factors that may impact the
operations and projections discussed herein can be found in FRSG's
final prospectus for its initial public offering, which was filed
with the SEC on March 5, 2021, and its periodic filings with the
SEC, including its Quarterly Report on Form 10-Q for quarterly
period ended June 30, 2021. FRSG's SEC filings are available
publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a
registration statement on Form F-4 that includes a preliminary
proxy statement/prospectus has been filed by EO with the SEC. After
the registration statement is declared effective, the definitive
proxy statement will be distributed to FRSG’s stockholders in
connection with FRSG’s solicitation for proxies for the vote by
FRSG’s stockholders in connection with the proposed business
combination and other matters as described in the Form F-4, as well
as a definitive prospectus of EO relating to the offer of the
securities to be issued in connection with the completion of the
business combination. Copies of the Form F-4 may be obtained free
of charge at the SEC's website at www.sec.gov. FRSG’s stockholders
are urged to read the preliminary proxy statement/prospectus and
the other relevant materials (including, when available, the
definitive proxy statement/prospectus) when they become available
before making any voting decision with respect to the proposed
business combination because they will contain important
information about the business combination and the parties to the
business combination. The information contained on, or that may be
accessed through, the websites referenced in this press release is
not incorporated by reference into, and is not a part of, this
press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent, or authorization with respect to any securities or
in respect of the proposed business combination and shall not
constitute an offer to sell or a solicitation of an offer to buy
the securities of FRSG, EO or Juuce, nor shall there be any sale of
any such securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of
the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and
officers may be deemed participants in the solicitation of proxies
of FRSG's stockholders in connection with the proposed business
combination. Security holders may obtain more detailed information
regarding the names, affiliations and interests of certain of
FRSG's executive officers and directors in the solicitation by
reading FRSG's final prospectus for its initial public offering,
which was filed with the SEC on March 5, 2021, and the proxy
statement/prospectus and other relevant materials filed with the
SEC in connection with the business combination when they become
available. Information concerning the interests of FRSG's, the
Company’s and EO’s participants in the solicitation, which may, in
some cases, be different than those of their stockholders
generally, will be set forth in the proxy statement/prospectus
relating to the business combination when it becomes available.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211202005288/en/
EO: SEC Newgate UK Ian Morris / Sophie Morello / Jessica
Hodson Walker / Tim Le Couilliard EOCharging@secnewgate.co.uk
For Investors: ICR, Inc. eoIR@icrinc.com
For US Media: ICR, Inc. eoPR@icrinc.com
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