Information on the target
The target of this merger is Eviny Fast Charging, a prominent player in the Nordic fast-charging market, and Mer, a rapidly growing fast-charging operator. Together, they aim to create a combined entity that will enhance operational scale and profitability while providing an improved customer experience. The merged company will operate across Norway, Sweden, and Denmark, boasting over one million registered customers and establishing itself as the largest operator in the Nordic region.
Eviny Fast Charging has demonstrated significant growth since its inception, achieving positive EBITDA as early as 2022. The company has a strong market presence, with its Bilkraft app being the most widely used charging application in Norway. Mer, on the other hand, has seen its revenues triple from 2021 to 2025, driven by an expansion in the number of charging points and a robust public fast-charging business.
Industry overview in the target’s specific country
The Renewable Fuels (NEC) industry in Norway is experiencing a transformative phase, driven by the increasing adoption of electric vehicles (EVs) and a growing emphasis on sustainable energy solutions. As the Norwegian government continues to promote policies aimed at reducing carbon emissions, the demand for renewable energy sources, particularly in the transportation sector, is on the rise. This shift is creating a favorable environment for companies involved in renewable fuels and fast-charging infrastructure.
Norway has established itself as a leader in the EV market, with a significant percentage of new car sales being electric. This trend is supported by a well-developed charging infrastructure, which is crucial for the widespread adoption of electric vehicles. The fast-charging segment is particularly important, as it addresses the need for efficient and accessible charging solutions for EV users. The merger between Eviny Fast Charging and Mer is strategically positioned to capitalize on this growing demand.
In addition to the domestic market, the Nordic region as a whole is witnessing a consolidation phase within the charging market. Companies are increasingly recognizing the importance of scale and cost efficiency to enhance profitability. The merger is expected to create a more competitive landscape, enabling the combined entity to offer a larger network of charging stations, simplified user experiences, and competitive pricing for consumers.
As the share of electric vehicles continues to grow, the need for a robust and efficient charging network becomes paramount. The merger of Eviny Fast Charging and Mer is a…