CIIF secures Church support in the UK
The manager of the UK Treasury’s Charging Infrastructure Investment Fund has announced a second close valued at £80m. The support comes from the Church Commissioners for England group with HM Treasury matching, as was announced by the fund management company Zouk Capital.
The declared goal of the fund is to “catalyse the rollout of electric vehicle charging infrastructure that is required to support the electrification of vehicles, by providing greater access to finance on a commercial basis”, and it now holds £150m in deployable capital, with £275m in signed commitments against a target of £400m.
The first investment from the fund so far went to InstaVolt, which develops, sells and manages rapid EV charging stations in the UK for their plans to nationally bolster UK rapid charge points to a total of 5,000.
Chris West, Head of Indirect Property, Timberland and Infrastructure at Church Commissioners for England described the investment as follows: “We are pleased to make this commitment to the Zouk Charging Infrastructure Investment Fund which will help support the rollout of the UK’s public charging infrastructure over the coming years.”
Samer Salty, the managing partner of Zouk Capital, added: “We are delighted to welcome new investors to the fund who share in our belief in both the commercial opportunity in electric vehicle infrastructure and the importance of decarbonisation.”
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