Greenman Energy’s Footprint & Revenue Expands

Starting from a blank piece of paper in 2022, Greenman Energy (GME) has established a meaningful EV charging infrastructure footprint. This week, GME completed 65,000 hyper-charges for more than 17,000 customers across its portfolio of 96 charging points located in 21 locations within Greenman OPEN’s portfolio. This has generated approximately €1.3m in revenue to date.

With a further 8 locations targeted for hyper-charger installation by the end of 2026, GME expects this “high growth” revenue generation to increase more rapidly. If targets are achieved, GME could generate approximately €3m of revenue in 2027.

Currently, around 3.6% of all vehicles entering a Greenman OPEN property are EVs, and – at locations where data is available – just 10% of those EVs charge on site. GME has set targets to increase this on-site charging rate to around 15% by the end of 2028. This June, to help reach this target, GME launched its own charging app – SPARK. Early trials have been successful, and the more than 4,000 customers who have returned to charge at least once are being encouraged to download and use SPARK as their primary charging tool.

While the Iran war has brought the purchase of an EV into sharp focus from more people, the longer-term trend in Germany is for the sale of EVs to continue to expand. At the end of 2025 approximately 2.2m EVs were in use in Germany and this number is estimated to grow substantially to around 9m by 2030.

The triple multiplier effect delivered by GME’s larger charging point footprint with the increasing number of visitors to Greenman OPEN properties owning and choosing to charge their EV at a GME charger could see a substantial increase in GME’s income with annual revenue potentially increasing to c. €7.5m by the end of 2030.

Important Note

This update is for information purposes only. Shareholders in Greenman OPEN are not required to act upon any of the information contained in this update.

This update includes forecasts, forward-looking statements and estimates. There is a significant risk that targets and milestones mentioned in this update may not be met or may not be met in the expected timeline and the performance of Greenman OPEN may be affected if these targets are not met.

This update also includes current and historic information. Historic data and therefore past performance is not a good predictor of future performance.

Nothing in this update should be considered as investment advice or as a recommendation to invest.

Further Information

If you would like further information, please feel free to contact our investor’s team at enquiry@greenman.com

The SPARK app is available for download here.