Plug Charging reports 335% revenue rise and 1,500 charger network after three acquisitions
By Eve
Cardiff-based Plug Charging, founded in 2023, has grown revenue by 335% year on year and gross profit by 868%, building a managed network of 1,500 chargers through three strategic acquisitions. The company tripled its workforce and now offers depot charging, public charging and full operations and maintenance services. Operating profit rose 1,262% and net assets increased 2,300% in the 12 month period, according to founder and CEO Jarrad Morris.
Why it matters: The rapid scaling of a two year old operator into a 1,500 point network signals consolidation in the UK market and highlights the viability of acquisition-led growth models. Procurement teams evaluating partners will note the shift toward integrated operations and maintenance capability alongside hardware deployment.