Ampol Buys Evie Networks for $225M to Lead Australia’s Public EV Charging Market
Key Takeaways
- Ampol is acquiring 100% of Evie Networks for $225 million, fully debt funded, creating a combined public EV charging network of approximately 1,425 bays across more than 400 sites nationwide.
- The combined Energy Solutions and Evie Networks business is targeted to reach EBITDA breakeven in 2028, with $30 million in annualised EBITDA including synergies within three years of completion.
- Evie Networks brings a 9-year operating track record, a weighted average lease expiry of approximately 10 years, and established grid connectivity — infrastructure that takes years to replicate organically.
- The transaction is subject to ACCC clearance, with completion targeted in H1 2027 and full integration expected across approximately three years post completion.
- Ampol reiterates its commitment to its Baa1 investment grade credit rating, with the transaction expected to have only a nominal impact on leverage.
Ampol moves to become Australia’s leading public EV charging platform
On 1 October 2026, Ampol Limited (ASX: ALD) announced that its wholly owned subsidiary, Ampol Energy Pty Ltd, has executed a Share Sale Agreement to acquire 100% of Fast Cities Australia Pty Ltd, trading as Evie Networks, for $225 million. The deal is fully debt funded and positions Ampol as a leading public battery electric vehicle (BEV) charging platform in Australia.
Key transaction details:
- Acquisition price: $225 million, fully debt funded
- Structure: 100% of Fast Cities Australia Pty Ltd (trading as Evie Networks)
- Combined network upon completion: approximately 1,425 charging bays across more than 400 sites
- Ampol reiterates commitment to its Baa1 investment grade credit rating
- Subject to ACCC clearance; completion targeted in H1 2027
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What Evie Networks brings to the table
Evie Networks is a proven infrastructure owner and operator with a 9-year track record, running a nationwide network of fast and ultra-fast charging stations across urban, regional and highway locations. The acquisition adds over 1,030 charging bays, creating a combined network of approximately 1,425 bays.
Beyond scale, the asset brings structural qualities that are not easily or quickly replicated:
- Weighted average lease expiry of approximately 10 years
- Established grid connectivity, with some sites holding spare grid capacity for capital-efficient capacity expansion
- Established customer base serving commercial fleets, vehicle manufacturers, governments and retail partners
Ampol CEO and Managing Director Matt Halliday acknowledged the role of the principal Evie Networks shareholder, Trevor St Baker AO, describing him as “a genuine pioneer of Australia’s BEV charging industry…”
On the asset itself, Halliday said:
Matt Halliday, CEO and Managing Director, Ampol
“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.”
Why public EV charging infrastructure matters for investors
Not all EV charging is equal, and the distinction matters for understanding what Ampol paid $225 million for.
Home and workplace charging handles the majority of everyday top-ups, but it cannot serve drivers on long journeys or fleets that operate around the clock. That gap is filled by public DC fast-charging networks, which deliver high-power charges in minutes rather than hours. These are the sites that make EV ownership viable for a much broader population, and they require significant capital, land tenure, and grid access to build at scale.
Independent market analysis from Rystad Energy Advisory (21 July 2026) found that Australia’s public DC fast-charging market is the largest value pool in the BEV charging market, yet remains under-developed relative to global peers and is expected to grow substantially over the coming decade as BEV adoption increases.
This is where the strategic logic of the acquisition sits. Infrastructure with established grid connections and long-dated leases takes years to replicate. By acquiring Evie Networks now, Ampol is securing network positions ahead of the demand curve rather than competing for sites once BEV adoption reaches the point where every fuel retailer, retailer and property owner is chasing the same grid capacity. The value of what Evie Networks has built is not fully visible in today’s revenues; it sits in the structural position those assets will hold as adoption accelerates.
Financial targets and the path to profitability
The announcement discloses a clear financial timeline for the combined business, defined as Ampol’s Energy Solutions unit (the business unit focusing on transport energy solutions, excluding traditional fuels) together with Evie Networks, subject to ACCC clearance.
| Milestone | Target | Timeframe | Notes |
|---|---|---|---|
| Synergy delivery | ~$10M (mostly cost) | Within 3 years post completion | — |
| Combined EBITDA breakeven | Breakeven | 2028 (first full calendar year post completion) | — |
| Annualised EBITDA (combined) | $30M (including synergies) | Within 3 years post completion | Includes anticipated public charging demand growth and network expansion |
| Long-term growth rate | Double-digit per annum | Post 3-year period | — |
Full integration is expected to take approximately three years from completion. The transaction is expected to have a nominal impact on Ampol’s leverage, and the company reiterates its commitment to maintaining its Baa1 investment grade credit rating.
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Strategic logic and what comes next
This acquisition does two things simultaneously: it accelerates Ampol’s e-mobility ambitions and reduces the risk of that strategy by replacing a site-by-site organic build with an established national platform.
Key strategic outcomes from the combination include:
- Ampol gains immediate national charging scale rather than competing for sites one at a time
- Existing Evie sites with spare grid capacity allow capital-efficient expansion of charging capacity without starting from scratch
- Further fleet customer growth is anticipated through Ampol’s existing leading fleet customer relationships
- The combined platform serves both consumer and commercial channels with an expanded customer base
ACCC clearance is required before the transaction can complete, with completion targeted in H1 2027. Full integration is expected across approximately three years post completion.
The broader picture is a company converting the strengths it has built in fuel retail, including customer relationships, balance sheet capacity and operational capability, into a position in the next generation of energy transition infrastructure. As Halliday framed it, the combined platform is expected to be “…well positioned to capture future growth in public charging demand.”
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