Myenergi plans £500m IPO - report

Myenergi, a maker of electric car charging systems, is considering an initial public offering that could value it at up to £500m, according to a report.

The energy technology startup is backed by Terry Leahy, the former boss of Tesco. Its products allow households to divert surplus power from solar panels to charge an electric vehicle using its Zappi charger.

The company was founded in 2016 by Lee Sutton and Jordan Brompton and has grown from a team of six to employ more than 200 people. Myenergi opened its first international subsidiaries in Germany and Benelux in 2020, followed by Ireland in 2021.

The Telegraph reported that the company was preparing an IPO to capitalise on the green boom. Leahy and Bill Currie, founder of the William Currie investment group, invested £1.2m jointly in 2018.