- Former Tesla, Google and Nest executive to bring extensive
leadership experience from disruptive, mission-driven companies in
the consumer energy industry
- 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 the appointment of Tom vonReichbauer to the
company’s Board of Directors upon completion of EO’s business
combination with First Reserve Sustainable Growth Corp. (NASDAQ:
FRSG), which is expected in the first quarter of 2022.
vonReichbauer, who will serve as Audit Committee Chair, will bring
extensive experience to EO from within the consumer energy
industry, having worked previously at Tesla, Google, Nest and
Ford.
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Tom vonReichbauer (Photo: Business
Wire)
vonReichbauer currently serves as CFO at Sunrun, the U.S.’
leading residential solar, storage and energy services company. In
his role leading the finance, accounting, technology, and supply
chain teams, he is responsible for growing Sunrun’s long-term value
and competitiveness. vonReichbauer’s financial and strategic
expertise will be crucial for EO as the company expands into the
U.S. market and looks to capitalise on the recent tailwinds from
the Biden Administration’s infrastructure bill and Build Back
Better Act.
“EO is at a critical inflection point in its history – from both
a financial and operational standpoint,” said Charlie Jardine,
EO’s CEO and Founder. “Tom has worked for, and advised, some of
the most innovative and well-run global organisations and his
significant expertise in these areas will be invaluable for our
business as we undergo this substantial transformation. We can’t
wait to welcome him on to our board as EO takes this next
step.”
Prior to joining Sunrun, vonReichbauer spent nearly six years at
Nest, the home IoT device company that created the Nest Thermostat.
He joined in 2013 as the company’s first full-time CFO and led the
company’s successful sale to Google. Following the sale, he served
as Chief Business Officer for Nest, responsible for worldwide
sales, business development, partnerships, and go-to-market
activities, before moving over to Google as VP within the company’s
consumer hardware team.
vonReichbauer also has extensive automotive experience through
positions at Tesla Motors, Proterra and Ford. At Tesla he served in
several key financial roles, including Director of Finance. He was
instrumental in the product development of the Tesla Model S, as
well as the strategic planning, financing and corporate development
activities leading to the company’s initial public offering and
subsequent public equity offerings. At Proterra, the
marketing-leading manufacturer of zero-emission, battery-electric
buses, he served on the Board of Directors and as Chair of the
Audit Committee.
“EO is one of the most exciting companies I’ve come across in
the EV charging space. They have quickly established themselves as
a leader in fleet charging in the UK and Europe, and I see
tremendous opportunity for the company in the U.S.,” said
vonReichbauer. “I was honoured when Charlie and the First
Reserve team asked to appoint me to the post-merger Board of
Directors, and I look forward to helping the team as they prepare
for the public markets and further expansion into new
territories.”
Despite the pandemic, EO saw its revenues triple and headcount
double in 2020. Earlier in 2021, 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,
board and blue-chip customers such as Amazon, DHL, Go-Ahead, Tesco,
and Uber, 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/20211209005293/en/
EO Contacts: 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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