Source Ev Limited

The principal activity of the Group, represented by Source EV Limited and its subsidiaries (the “Group”) continued to be that of Electric Vehicle (EV) charge point operator. The Group was wholly owned by SSE Utility Solutions Limited ("SSE") until 10 September 2024, when it became a 50/50 joint venture between SSE and TotalEnergies Marketing UK Limited (“TotalEnergies”). The Group was established to design, construct, install, operate, and maintain EV charging hubs across the United Kingdom and Ireland. It operates through two wholly owned subsidiaries: Source EV UK Limited and Source EV Ireland Limited. The business model is capital-intensive, technology and data-driven, and front-loaded. The Group incurs significant upfront costs in land leasing, network development, engineering, construction, installation, and commissioning before generating meaningful revenue. Revenue is primarily derived from electricity consumption at charge points.