EV rapid charging specialists Engenie has been boosted in its aims to roll-out 1,500 chargers across the UK with the announcement of significant investment from Investec.
The increased capital will help the firm install both rapid chargers, and also future-proof ultra-rapid charge points, ready for the next generation of EVs arriving this year.
Priced at a simple cost per kWh used tariff, Engenie’s rapid chargers are currently being upgraded to allow for contactless bank card payments – for simplified pay-as-you-go access.
Jeremy Littman, Founder and Managing Director of Engenie, said: “Investec has demonstrated considerable confidence in both our business model and the technology which underpins Engenie’s approach.
“Our in-house team has extensive expertise in real estate and retail, and we’ll also be working closely with fleet managers to facilitate a transition to electric vehicles, without the need for costly investment.
“We are working with a number of private and public landlords to continue the roll-out of our market-leading EV charging points at multiple locations, and we’re looking forward to working closely with Investec in the months to come.”
Maurice Hochschild of Investec added: “Electric vehicles address significant pollution problems in major cities, and will in future be cheaper for consumers than traditional combustion engine vehicles. We expect EVs to be a major factor in the fourth industrial revolution and a significant contributor in helping to improve the environment in which we live.
“Investec is pleased to be working with Engenie as a consumer-focused charging provider. We intend to help them grow to be a leading, national provider of public, rapid EV chargers in the UK. This will help overcome one of the hurdles to private and commercial adoption of EVs, and this funding round represents a strategic investment in an early pioneer in an area which will shape the future of transport.”
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