Today: Feb 12, 2025

Char.gy Secures £100 Million to Expand UK On-Street EV Charging Infrastructure

8 months ago

London-based electric vehicle (EV) charging company, char.gy, has secured a substantial £100 million investment to enhance the rollout of its on-street charging infrastructure across the UK.

The boost comes from the Charging Infrastructure Investment Fund (CIIF) managed by Zouk Capital, a firm known for its investments in innovative companies like enspired and Dendra Systems.

The funds will support the Local Electric Vehicle Infrastructure Fund (LEVI), extending its reach and ensuring equitable access to charging infrastructure for the public.

This financial backing aims to accelerate the deployment of char.gy’s public on-street charging points over the next five years, particularly benefiting the 40% of UK households without access to off-street parking.

With Zouk Capital’s increased commitment, char.gy aims to expand its network from the current 3,000 charge points to 100,000 by 2030, supporting the transition for up to 1 million drivers. Currently, the UK has around 60,000 public charge points, highlighting the significant scale of char.gy’s expansion plans.

George Ridd, Partner at Zouk Capital, emphasized the importance of this investment. “Zouk’s increased commitment to char.gy comes at a pivotal time as the EV charging market experiences exponential growth. Collaborating with dedicated partners like char.gy allows local authorities to provide accessible, reliable charging infrastructure to their residents now and into the future. We are delighted to strengthen our support for char.gy’s mission. Well-capitalised providers like char.gy ensure that councils can depend on consistent, long-term investments, which are crucial for sustainable infrastructure development. Investors committed for the long haul are essential in meeting the growing demand for EV infrastructure and supporting the UK’s Net Zero 2050 goals.”

Founded by Richard Stobart, char.gy operates and manages a network of over 3,000 public EV charging stations across the UK. The company’s charge point solutions, designed and manufactured domestically, boast network availability consistently over 99%.

Since the installation of its first public charge point in Marlow, Buckinghamshire, in 2018, char.gy has established itself as a reliable provider of robust on-street EV charging networks.

John Lewis, CEO of char.gy, expressed enthusiasm for the investment and its implicationsChar.gy Secures £100 Million to Expand UK On-Street EV Charging Infrastructure.

“We are delighted that with Zouk’s continued support, we will continue to expand our on-street charging network, making EV ownership viable for more individuals reliant on public charging, supporting their transition to sustainable transport. Our mission is to ensure EV adoption is accessible to everyone, creating parity between those with off-street parking and those without.

The latest funding will help us accelerate our ambitious growth plans and will be directed towards the rollout of more charge points across the next five years. We are here to partner with local councils, providing the expertise and scale needed to drive the UK’s green agenda forward.”

Char.gy is capable of deploying over 500 charge points monthly, positioning itself to help meet the estimated requirement of 300,000 public chargers by 2030.

The deployment of more EV charging points aims to reduce reliance on fossil-fuel-powered vehicles, significantly lowering CO2 emissions and other harmful pollutants, thereby contributing to cleaner and healthier communities across the UK.

Fabrice Iranzi

Journalist and Project Leader at LionHerald, strong passion in tech and new ideas, serving Digital Company Builders in UK and beyond
E-mail: iranzi@lionherald.com