London-based electric vehicle (EV) charging company Char.gy has secured a substantial €118.2 million (£100 million) investment from the Charging Infrastructure Investment Fund (CIIF). This funding aims to significantly expand Char.gy’s on-street charging network across the UK over the next five years.
This investment will help address the needs of over 11 million UK households, about 40% of the total, that currently lack access to off-street parking facilities. Since its inception in 2016, Char.gy has been a key partner for UK councils, installing public charge points funded by the CIIF—a £420 million public-private fund initiated by the UK Government in 2019 and managed by Zouk Capital.
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Strategic Growth and Development
The Uk-based firm initially invested £6.4 million in 2021, followed by a second round in 2022 totaling £65 million. This latest funding round brings their total investment to £100 million, accelerating the deployment of EV charging infrastructure nationwide.
George Ridd, Partner at Zouk Capital, commented, “Zouk’s increased commitment to Char.gy comes at a pivotal time as the EV charging market experiences exponential growth. Collaborating with dedicated partners like Char.gy allows local authorities to provide accessible, reliable charging infrastructure to their residents now and into the future.”
Expanding the Charging Network
The funds will expedite Char.gy’s deployment of public on-street charging infrastructure across the UK over the next five years. The company plans to expand its current network of over 3,000 charge points to 100,000 by 2030, facilitating the transition for up to 1 million drivers. The current presence of nearly 60,000 public charge points in the UK underscores the scale of Char.gy’s growth plans.
The company maintains a network availability exceeding 99%. Since 2018, starting with Marlow, Buckinghamshire, the company has “consistently delivered robust” on-street EV charging networks. With the capacity to deploy over 500 charge points monthly, Char.gy is on track to meet the UK’s anticipated need for 300,000 public chargers by 2030.
This expansion aims to reduce reliance on fossil fuels, cutting CO2 emissions and pollutants for cleaner, healthier UK communities.
John Lewis, Char.gy’s CEO, expressed his enthusiasm: “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.”
About Char.gy
Founded by Richard Stobart, Char.gy is a provider and operator of electric vehicle (EV) charge points in the UK, managing a network of over 3,000 public charging stations. The company’s commitment lies in offering reliable, convenient, and affordable charging infrastructure accessible to all, particularly addressing the needs of the 40% of UK households without private driveways who rely on public charging solutions.
The startup aims to accelerate the transition to sustainable transport. Its vision for 2030 is to simplify and enhance EV use for over one million drivers by delivering a dependable public charging service, thereby contributing to a sustainable future.
