Electric vehicle (EV) charging firm Trojan Energy has raised £2.2 million in late seed round investment.
The round – which was led by Scottish angel investor Equity Gap and includes investment from Scottish Enterprise, SIS Ventures and Aberdeen-based angel investor Alba Equity – will help the company rollout its flat-and-flush on-street EV charging hubs.
Trojan Energy plans to improve its technology and applications by volume level manufacturing, rolling out chargepoints in more areas and growing its team in support of its ambition of being the de facto on-street charging solution for EVs in the UK by the end of 2023.
Currently, Trojan Energy has a team of 12, having increased this from a founding team of four just last year. It now plans to grow the team to around 20 by creating new roles including engineering positions, project managers and customer service leads.
When using Trojan Energy’s chargepoints, customers use a lance which connects their vehicle to the flat-and-flush chargepoint in the street. This design means the pavement is clear of clutter, Trojan said, as well as fully accessibly to other pavement users.
The chargepoints are connected via underground ducts to cabinets, which are located up to 100m away and can send power to 15 charging units at any one time.
By taking the technology to the next stage, the company will decrease the size of the cabinets, reduce costs and offer a wider range of charging options to customers.
Ian Mackenzie, CEO of Trojan Energy, said: “Currently, 10 million people in the UK who park on-street don't have access to electric vehicle charging. That's 10 million people that, without Trojan Energy, could be left behind by the energy transition.”
Overall, the company is aiming to provide immediate, cheap and green energy at up to 22kW via chargepoints in hubs of 15, or single units powered by the home, to address what it said is a lack of EV charging infrastructure in the urban environment with cost effective systems.
In July, five Trojan Energy on-street chargers went live as part of the Subsurface Technology for Electric Pathways (STEP) project, led by Element Energy.
Having been first announced in 2020, the project is to see 150 chargepoints across Brent and Camden, London, go live later this year.