Connected Kerb, the British born and based electric vehicle (EV) smart charging infrastructure specialist, yesterday announced it has secured a 65 million pounds equity investment to support its plans of expanding the UK’s on-street charging network.
The fundraise sees NWF commit a 55 million pounds ordinary equity investment alongside a further ten million pounds ordinary equity investment from Aviva Investors, the global asset management business of Aviva plc.
Chris Pateman-Jones, CEO of Connected Kerb, says: “This investment combines Connected Kerb’s proven hardware and advanced software infrastructure with the financial resources of NWF and Aviva to deploy public charging at scale, to all corners of the UK.”
Juliet Davenport, Connected Kerb Chair, states: “This funding will enable us to significantly expand our EV charging network, making electric vehicle charging accessible to everyone, especially those without driveways.”
This investment into the public charging infrastructure is critical for delivering the forecast requirement of at least 300,000 public EV chargers by 2030.
Future of Roads Minister, Lilian Greenwood, says: “The funding follows a record of nearly 20.000 public charge points added last year. With a further six billion pounds in the pipeline from industry by 2030, the switch to EVs is driving investment across the country, supporting jobs and making the UK a clean energy superpower to deliver our plan for change.”
John Flint, National Wealth Fund, states: “To get to net zero we need to make it as easy as possible for people to change the way they do things. Providing convenient and reliable on-street charging is key to helping those without driveways make the switch to electric vehicles.”
Angenika Kunne, Head of Infrastructure Equity, Aviva Investors, indicates: ”The unique offer of Connected Kerb’s advanced site selection and user software provides a compelling proposition for both Aviva Investors clients and the end user.”
EV ownership continues to rise fast with over 30% of new vehicles sold last December# being pure battery EVs.
However, there’s a growing gap between EV ownership where drivers can charge their vehicle on their own driveway or garages and where they cannot, as is the case in 55% of dwellings in urban areas.
By boosting public charging infrastructure, Connected Kerb’s public/private partnership model, enabled by NWF and Aviva Investors, is rebalancing this inequality.
The company’s chargers are manufactured in the UK, supporting the government’s drive for green job creation.
Connected Kerb was advised in this transaction by Cameron Barney Herbst Hilgenfeldt (CBHH).
Read more: Top companies gather at the “Storage, Renewable and Electric Vehicles Integration Forum”
