Fuel retailer Ampol wants to acquire EV Sydney charging scaleup Evie Networks for $225 million.
Ampol will acquire 100% of Fast Cities Australia, trading as Evie Networks, Australia’s largest charger network, if the deal is approved by the competition regulator.
Evie was founded in 2017 by Paul Fox and Rodger Whitby, with Trevor St Baker’s Energy Innovation Fund as a key investor and the company’s largest shareholder. A $500,000 in Seed round in 2017 was followed by a $7 million Series A in 2018. All up, St Baker invested more than $100m in Evie.
In 2019, the Australian Renewable Energy Agency (ARENA) committed $15 million towards a $50.2 million project covering 42 ultrafast charging sites. Evie also secured a $50 million debt facility from Mike Cannon-Brookes-backed Infradebt in September 2025.
“As an early mover, we had to build before there was any demand, so we used venture capital to prove the model,” cofounder Paul Fox wrote at the time about his startup’s growth.
Under the deal Evie’s more than 1,030 charging bays will join Ampol’s AmpCharge network, creating approximately 1,425 bays across more than 400 sites.
Evie’s sites have a weighted average remaining lease term of approximately 10 years, established grid connections and, at some locations, spare capacity for expansion.
Ampol CEO Matt Halliday described Trevor St Baker, Evie’s principal shareholder, as a pioneer of Australia’s EV charging industry.
“The acquisition secures a portfolio of well-located sites with long-dated average lease tenure and established grid access that we believe will become increasingly valuable as BEV adoption accelerates in the years ahead,” he said.
Ampol expects its combined Energy Solutions and Evie operations to generate annualised EBITDA (earnings before interest, tax, depreciation and amortisation) of $30 million within three years of completion, including approximately $10, mainly through cost savings.
The retailer forecasts the combined charging business reaching breakeven in 2028.
The acquisition will be debt funded, with completion targeted for the first half of 2027, subject to ACCC clearance and other conditions. Full integration is expected to take three years.
Evie has offices in Sydney, Melbourne and Brisbane.
