by Future Transport-News
15 Jun 2022
InstaVolt Secures £110m of Debt Funding to Accelerate Investment into EV Charging Infrastructure across the UK
Leading EV charge point provider, InstaVolt, is today announcing that it has received £110m in senior debt financing from Santander, Lloyds Bank, Investec, Natixis and NIBC to continue its significant expansion of rapid EV charging infrastructure throughout the UK.
As the Society of Motor Manufacturers and Traders (SMMT) announces electric vehicle ownership in the UK rose by 71% in 2022 YTD versus 2021 and with a third of British households lacking access to off-street or private driveway charging, demand for public charge points continues to climb.
This latest funding is a commitment to the EV industry and InstaVolt’s significant infrastructure expansion, as consumer uptake continues to build ahead of the government imposed 2030 sanction on the sale of petrol and diesel vehicles.
“Having such prestigious banks come together to provide this facility is a sure sign of confidence in InstaVolt and the opportunity provided by the charging infrastructure industry more generally. This funding will form an important part of our strategy to expand our network within the UK and support our country’s continued green transition: a journey which requires organisations and bodies to come together wherever possible.
“InstaVolt has been at the forefront of the growth in public charging infrastructure, providing industry leading levels of reliability at fantastic locations across the country. We are witnessing a rapid transition to electric vehicles, and it is of fundamental importance that the infrastructure is in place to support that.”
The funding comes three months after EQT Infrastructure acquired InstaVolt, who share the company’s vision to build a nationwide network of 10,000 rapid EV chargers by 2032.
This year, InstaVolt was named the UK’s best public charging network by Zap-Map for the fourth year in a row and awarded the EVIE “Private Sector Infrastructure Strategy of the Year” award for the second year in a row.
For more information about InstaVolt, please visit www.instavolt.co.uk.
This article was originally published by InstaVolt Ltd.
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