Investments
Cameron Barney advises Weev on securing an investment by Octopus Investments to back its £50m rollout plan
May 2023
Cameron Barney LLP is pleased to announce that it acted as exclusive financial advisor to Weev.IE Ltd in securing an investment by Octopus Investments to back its £50m rollout plan. The investment will be used to accelerate Weev’s ambition to address the shortage of electric vehicle charging infrastructure in Northern Ireland.
Weev installs public electric vehicle chargers and end-to-end EV solutions for workplace and fleet. Its chargers are situated in convenient locations across Northern Ireland, from hotels to shopping centres. Weev uses locally-based installation and maintenance teams providing round-the-clock 24/7 support keeping customers on the road. Its network is convenient and reliable, both of which are paramount to EV drivers.
“This investment from Octopus enables a major expansion to the size and scope of the rollout we announced at launch last year. The capital will enable us to install and maintain a network of thousands of EV charging points over the next five years using locally-based teams and expertise. Cameron Barney’s advice, guidance, and support was essential in achieving this important next step in our development.”
Weev was established in 2022 by Dominic Kearns and Thomas O’Hagan to create Northern Ireland's largest privately operated EV charging network. The founders are serial entrepreneurs and together also own Belfast based b4b group which specialises in business telecoms and IT services. Dominic Kearns is also a founder and CEO of Fibrus which has plans to invest over £1bn in its rollout and has recently expanded into the north of England.
“We are delighted to have successfully obtained a significant financial investment to fund Weev’s rollout plan. This enables the Company to accelerate its business plan with the assistance of a supportive and knowledgeable investor. This significant financial investment will enable the Company to deliver on its mission to become the largest privately operated EV charging network in Northern Ireland.”
About Weev
Weev was established in 2022 to create Northern Ireland's largest privately operated EV charging network. Weev provides end-to-end solutions with locally-based installation and maintenance teams providing round-the-clock 24/7 support keeping customers on the road. Sustainability is at the core of what Weev does, helping drivers and businesses drive down emissions and fight climate change.
For more information, visit weev.ie
About Cameron Barney
Cameron Barney is an independent merchant bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector. Cameron Barney is authorised and regulated by the Financial Conduct Authority.
For further information please contact:
Cameron Barney LLP
Charles Cameron +44 7785 292 019
David Scribner +44 7392 802 624
