Ampol Energy, a subsidiary of Ampol Limited, has signed a share sale agreement to purchase all of Fast Cities Australia, the company behind the Evie Networks public EV charging network, for $225 million, Ampol said in a statement. The deal is conditional on clearance from the Australian Competition and Consumer Commission. Completion is expected in the first half of 2027, with Ampol and Evie continuing to operate independently until then.
More than 1,030 charging bays are expected to join Ampol's network through the deal, bringing the combined total to approximately 1,425 bays at more than 400 sites across the country. The acquisition is to be funded from Ampol's existing debt facilities. Evie Networks was established in 2017 by Paul Fox and Rodger Whitby, and operates under the principal shareholding of Trevor St Baker through his St Baker Energy Innovation Fund.
Ampol said the deal brings forward and reduces the risk in its route to public charging scale, with the combined entity drawing on Evie's sites alongside Ampol's customer base, operations and balance sheet to pursue future growth. The combined charging business, including synergies, is forecast by Ampol to reach annualised EBITDA of $30 million within three years of ownership.
Breakeven EBITDA from the combined business is expected in 2028, and Ampol is targeting double-digit annual growth in the combined charging business after the three-year period. Cost synergies of $10 million are being targeted across the three years following completion.
Matt Halliday, managing director and chief executive of Ampol, said a large share of Australian households cannot charge at home, making public infrastructure essential for fleets, rideshare operators and long-distance travellers. He said the need for public charging is especially pressing in Australia given the country's scale, where gaps between charging locations feed range anxiety and put people off buying an EV.
Ampol states that over the past five months, EVs have on average accounted for more than 20% of new car sales in Australia. Within the AmpCharge network, charging sessions rose 116% and energy supplied rose 120% in the first half of 2026 compared with the prior corresponding period.
Motorists who use public EV charging infrastructure may gain access to the larger combined network, though only after the deal receives ACCC clearance and completes. Commercial fleet operators, rideshare businesses and households without the ability to charge at home are among the customer groups Ampol has identified as relying on public charging infrastructure.
Official statements: Ampol, Ampol
Reporting: Business News Australia, Yahoo Finance
Written by Pick & Scroll News from the reporting and documents linked above.
