OVO announces acquisition of Bonnet

OVO announces acquisition of Bonnet to bring accessible public charging to millions of customers around UK.

OVO announces acquisition of Bonnet to bring accessible public charging to millions of customers around UK.

OVO announced that it has successfully completed the acquisition of public EV charging consumer app Bonnet.

Bonnet’s groundbreaking technology brings together nationwide public charge point operators into one app. Bonnet is one of the largest public charging consumer apps with over 80% of the UK’s charge points available on the app. EV drivers have access to over 27,000 chargers at 7,000 locations. EV drivers can locate, use and pay for public charge points without switching between different cards or logins.

Today’s announcement follows recent news that OVO’s intelligent charging add-on for EV home charging – Charge Anytime – has saved customers more than £3 million since it launched earlier this year Powered by Kaluza’s smart technology, the add-on works by automatically optimising cars to charge when emissions and prices are low.

The acquisition underlines OVO’s focus on developing new propositions to help accelerate the green transition and support customers on their journey to zero carbon living.

Mat Moakes, Chief Commercial Officer, OVO, said:

“Like Bonnet, we want to revolutionise the EV charging experience and take another step forward on our Path to Zero. Using innovative technology they’re connecting EV drivers to the best charging networks available and turning every charge point into an accessible and simple charger that any driver can use. By combining Bonnet’s cutting edge app and OVO’s experience and scale we will encourage more people to adopt electric vehicles and transition to a greener lifestyle.”

Patrick Reich, CEO and Co-Founder of Bonnet, said:

“This is an exhilarating moment for Bonnet and our team. We have long admired OVO and what they’ve been doing to make owning an EV as easy as possible. At Bonnet, we share this mission, and since we launched in 2021 we’ve made charging publicly across the UK and Europe simpler and more reliable for our more than 150,000 engaged drivers and their families.

“Our driver community has always been at the heart of every move we’ve made – from product updates to our strategic direction – and we know partnering with OVO is going to unlock new opportunities, such as new features and integrations to people’s homes.

“By being part of OVO, as one of the UK’s leading energy companies, we can now fully double-down on our ambitions for growth and seize new opportunities to help EV drivers, building into the entire driver journey – whether at home or away.”

Eliot Makabu, CTO and Co-Founder of Bonnet, commented:

“Reducing the impact of climate change sits at the core of our business and, through our efforts, we have been enabling people to drive cleaner vehicles. In OVO, we find a like-minded partner with outstanding green credentials, and together we are looking forward to continuing to have a positive impact on the world so that more people and businesses can embrace clean transport and renewable energy.”

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