Zouk Capital announces a £6.4m investment into Char.gy, an on-street EV charge point operator and eMSP (eMobility Service Provider), which is rolling out on-street residential electric vehicle charging points in the UK.
Zouk Capital is the manager of the UK Government’s Charging Infrastructure Investment Fund (CIIF), established in 2019. The fund aims to help develop public charging infrastructure points for electric cars throughout the UK. Zouk says that the fund has already exceeded its original target of £400m while a final close is expected later this year.
Char.gy already operates almost 1,000 EV chargers across the UK having worked with numerous councils including Southwark, Coventry, Merton, Buckinghamshire, Redbridge, Harrow, Haringey and Brent. Zouk Capital says Char.gy’s new installations are about to get underway in Croydon and Leicester as well as a “pipeline of opportunities with private sector hosts”.
“Driving an electric vehicle without off-street parking is still a real challenge for those looking to make the shift,” commented Richard Stobart, CEO and founder of char.gy. “We envisage a world where every lamppost is also a charge point. Wouldn’t that make things simpler? We think so, and this is why we want to roll out Char.gy to all corners of the UK and tackle new markets abroad. We are delighted Zouk Capital and CIIF will be supporting Char.gy on this journey and we look forward to working with them to rapidly scale the business to improve access to EV charge points to every household without a driveway.”
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