EV charging firm Instavolt has laid claim to the country’s largest owner-operated rapid charging network after construction started on its 400th charger.
Work has started on the installation on the A460 in Cannock, Satffordshire, which Instavolt CFO Adrian Keen said was testament to the popularity of its technology.
In addition, the company now expects installations to ramp up and it expects to have 600 rapid chargers operational by next Spring.
Investors in Instavolt include Zouk Capital, the government’s preferred bidder to manage its £400 million EV Charging Infrastructure Investment Fund, while some of its top team will also be familiar faces to many in the clean energy industry.
Chairman Adrian Pike and chief executive Tim Payne co-founded solar PV and battery storage developer Anesco in 2010. During their time at the company Anesco established itself as among the leading developers of utility-scale solar PV. Both left Anesco at the end of May 2016, before going on to launch Instavolt six months later.
Rapid chargers, which are rated at speeds above 43kW AC and 50kW DC, are becoming increasingly prominent in the UK as the country’s charging infrastructure begins to accelerate in its deployment.
There is also increasing competition in the public network operator stakes, with established players coming up against new entrants, and others eyeing up potential opportunities in the market.
Instavolt’s business model sees chargers installed for free, with the company taking ownership of projects from planning to ongoing maintenance.