Ovo buys electric vehicle charging app Bonnet

Energy company Ovo has acquired the electric vehicle (EV) charging app Bonnet for an undisclosed sum.

Bonnet was launched in 2021 to simplify charging for electric car drivers, saving them from downloading multiple apps.

It was founded by Patrick Reich and Eliot Makabu, who came up with the idea for Bonnet while studying electrical engineering together in London.

Bonnet is headquartered in London, UK, with operations across Europe. Through its app, EV drivers can access more than 400,000 chargers across the UK and Europe.

In the UK, it gives access to more than 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. 

The acquisition, said Ovo, underlines its 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 at Ovo, explained: “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.”

Bonnet’s co-founders Reich and Makabu will be joining the Ovo team.

Reich 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.”

Makabu added: “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.”