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Zouk Capital, a pivotal player in sustainable infrastructure investment, has notably increased its financial commitment to Zest, a leading certified B Corporation focused on electric vehicle (EV) infrastructure, to £105 million. This enhanced investment, channelled through the Charging Infrastructure Investment Fund (CIIF), underscores Zouk Capital’s confidence in Zest’s rapidly expanding operational footprint and its ability to fulfill a growing number of strategic contracts.
Among Zest’s notable projects are the development of rapid charging stations across 75 locations as part of the Transport for London’s Electric Vehicle Infrastructure Delivery (EVID) program, and a landmark EV charging deployment with Hackney Council, recognized as the UK’s most concentrated.
The UK’s adoption of fully electric vehicles has seen a significant uptick, with registrations nearing the one million mark by the end of the previous year. Approximately a third of these registrations occurred in 2023 alone. Despite the increase in public charge points to over 53,000, this figure still falls short of the government’s ambitious target of 300,000 by 2030.
The CIIF’s Role in EV Infrastructure Expansion
The CIIF, a £420m initiative backed by HM Treasury (via the UK Infrastructure Bank) and sustainable private investors, aims to expedite the deployment of EV charging infrastructure across the UK. Managed by Zouk Capital, the fund focuses on enhancing the accessibility and convenience of open-access, public EV charging networks, thereby contributing to the reduction of greenhouse gas emissions and air pollution from transportation.
Zest’s Commitment to Sustainability and Equity
Robin Heap, CEO of Zest, emphasized the company’s dedication to building scalable EV infrastructure solutions that adhere to the highest standards of climate sustainability and social equity. “Our increasing momentum is a direct result of working to these core principles, creating the blueprint for mass deployment,” Heap stated, highlighting the crucial support and stability provided by Zouk Capital and the CIIF.
Massimo Resta, Partner at Zouk Capital, echoed this sentiment, praising Zest’s ability to deliver large-scale projects while maintaining a strong commitment to social responsibility and environmental sustainability. “Zest has the ability to deliver at scale whilst maintaining the highest standards of social responsibility, helping to tackle climate change, boost local economic growth, and make EV a realistic option for everyone in society,” Resta remarked.
About Zouk Capital
Zouk Capital stands at the intersection of infrastructure, technology, and sustainability, targeting investments that respond to the world’s most urgent environmental and social challenges. With a focus on environmental infrastructure and renewable energy, Zouk’s investment approach integrates environmental, social, and governance (ESG) considerations at its core. The firm manages approximately €1 billion, including the CIIF, which aims to develop the public EV charging market in the UK.
Zest’s B Corp Certification
Zest’s B Corp Certification highlights its commitment to high social and environmental performance, accountability, and transparency. To attain this certification, Zest has demonstrated a significant impact on its employees, community, environment, and customers, reaffirming its role as a leader in sustainable business practices and continuous improvement.
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