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char.gy secures a £100m funding commitment to expand its on-street electric vehicle (EV) charging infrastructure across the UK. The investment will accelerate the deployment of public on-street charging points, supporting over 11 million UK households without off-street parking access.
Key Highlights
- Zouk Capital increases commitment from the UK Government-anchored Charging Infrastructure Investment Fund (CIIF) to £100m.
- Funding supports the Local Electric Vehicle Infrastructure Fund (LEVI), enhancing public access to charging infrastructure.
- char.gy aims to grow its network from over 3,000 charge points today to 100,000 by 2030, supporting up to 1 million drivers.
- Investment underscores char.gy’s role in the UK’s transition to electric vehicles.
With this new investment from Zouk Capital, char.gy plans to expand its network from over 3,000 charge points to 100,000 by 2030, accommodating the needs of up to 1 million drivers. Currently, the UK has approximately 60,000 public charge points, emphasizing the ambitious nature of char.gy’s growth plans.
Since its inception, char.gy has become a trusted partner for UK councils, facilitating the installation of public charge points through CIIF, a £420m public-private fund established by the UK Government in 2019. The fund, managed by Zouk Capital, aims to accelerate the deployment of EV charging infrastructure across the UK. char.gy’s initial £6.4m investment in 2021, followed by a second round in 2022 bringing the total to £65m, has now culminated in this third round, bringing the total investment to £100m.
char.gy’s range of charge point solutions, designed and manufactured in the UK, have proved highly effective with network availability consistently over 99%. Since the installation of its first public charge point in Marlow, Buckinghamshire in 2018, char.gy has consistently delivered robust on-street EV charging networks. Capable of deploying over 500 charge points monthly, the company is accelerating its rollout to help meet the estimated requirement of 300,000 public chargers needed by 2030. The deployment of more EV charging points helps to decrease reliance on fossil-fuel-powered vehicles, significantly lowering CO2 emissions and other harmful pollutants, contributing to cleaner, healthier communities across the UK.
John Lewis, char.gy CEO, said: “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.”
George Ridd, Partner at Zouk Capital, added: “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-capitalized 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.”
About char.gy
char.gy is a leading UK-owned and operated specialist in ‘on-street’ EV charging technologies and services. char.gy is backed by the Charging Infrastructure Investment Fund, managed by Zouk Capital LLP. The company is on a mission to provide reliable, low-cost, renewable-sourced public charging stations that also inject revenue into local councils ensuring charging station access across the UK and better services for local communities. char.gy now has 3,000 public charge points in operation. Discover more at char.gy.
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