Trojan Energy, the on-street electric vehicle charging specialist, has secured a 26 million pounds investment to support its ambitious growth plans.
Ian Mackenzie, CEO at the company, said: “This funding will allow Trojan Energy to continue its journey and deploy several thousand more points across the UK, serving tens of thousands of customers.”
“Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution,” he added.
The funding round includes 8 million pounds from growth capital investor BGF, along with a follow-on investment of 18 million pounds from the Scottish National Investment Bank.
Keith Barclay, Investor at BGF, stated: “It’s great to be supporting Trojan Energy’s growth journey as they continue to roll out chargers and make the electric vehicle transition accessible for the millions of households without a driveway.”
“The business has developed a high-quality product and the ‘clutter free’ element is a key differentiator.We look forward to working closely with Ian and the wider team to reach their ambitious goals and are excited to add another innovative company to BGF’s growing ‘climate tech’ portfolio,” he added.
Nicola Douglas, Executive Director at the Bank, said: “Trojan Energy has gone from strength to strength, and we are deploying more long-term support to help the company on its continued growth journey.”
“This investment aligns with our net zero mission as Trojan Energy’s green technology will play a part in supporting Scotland and the UK to reach important net zero targets by opening up EV charging to more potential users,” she added.
The company recently partnered with Barnet Council to install approximately 1,300 on-street charging points, and there are numerous new opportunities across the UK, including England, as part of the Local Electric Vehicle Infrastructure (LEVI) fund.
Launched in 2016, Trojan Energy’s patented charging technology provides convenient on-street electric vehicle charging, supporting the transition to electromobility for nine million UK households without driveway access.
The government aims to grow the country’s public charging network from around 50,000 at present to over 300,000 by 2030.
This infrastructure will support the ongoing acceleration of electric vehicle sales and address drivers’ concerns about public charging point availability.
Trojan’s products will contribute uniquely to this goal, making charging accessible to many more drivers.
These chargers are distinctive, as they are flush with the pavement, maintaining a “clean” urban landscape, and offer charging speeds of up to 22 kilowatts.
The company has also developed the “DEICER” system to alert drivers when a charger and charging compartment are available, ensuring a seamless user experience.
The products are manufactured at the company’s headquarters in Aberdeen, with a workforce that now totals 68 employees.
Read more: The largest Trojan Energy charging points project in the UK would be ready by April 2024
