Electric vehicle (EV) charging company Char.gy has secured £100 million in finance to bolster the rollout of on-street charging infrastructure across the UK.
With this new investment from Zouk Capital, char.gy aims to grow its network from over 3,000 chargepoints today to 100,000 by 2030, supporting the transition for up to 1 million drivers. Currently, the UK has around 60,000 public chargepoints, highlighting the scale of char.gy’s ambitious growth plans.
The additional capital is being allocated via the UK government-anchored Charging Infrastructure Investment Fund (CIIF), which is managed by Zouk Capital. It aims to accelerate the deployment of EV charging infrastructure.
It is worth noting that char.gy received a £6.4 million investment in 2021, followed by a second round in 2022 that brought the total to £65 million. As of the third round, total investment has reached £100 million.
On-street charging solutions continue to be a key aspect of the decarbonisation of British transport. In urban regions, many households cannot afford or access home charging. Instead, ensuring that on-street charging infrastructure is available can help those without driveways access EVs. This topic was featured in a recent blog by ubitricity’s UK market unit lead, Stuart Wilson.
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.”
