InstaVolt, the largest fully public owner-operator of rapid DC charging stations in the UK, have announced a capital raise from EQT Infrastructure, who acquired the business in February 2022.
The funding will ensure the pace of its roll out continues across the UK and Europe, where InstaVolt have a presence in Iceland, Portugal, Spain, and the Republic of Ireland.
InstaVolt are the only charge point operator that exclusively install ultra-rapid chargers over 100kW+ and their network now boasts than 2,000 chargers in operation or construction.
The company say their focus will remain on working with premium brands across Europe to offer first class amenities, and deliver larger hubs. In June last year they opened the largest ultra-rapid EV charging hub in Iceland and they have planning approval for a super hub along the A34 in Winchester, which will see 44 ultra-rapid chargers installed, all with accessibility in mind.
InstaVolt has plans in place to install 11,000 chargers in the UK and Ireland, 5,000 across Spain and Portugal, and over 300 in Iceland. With a pipeline of more than 16,000 chargers the Hampshire based company has employed staff in all regions to fulfil its goal to be the largest CPO in Europe.
Adrian Keen, CEO of InstaVolt stated, ‘This additional funding is a sign of confidence in InstaVolt and the EV charging industry as a whole, while showing the ambition to invest in future infrastructure, not just across the UK, but on a global scale. In the last 18 months with EQT, we have been able to explore considerable new opportunities including the introduction of Octopus and AllStar cards to ease the transition to EV for our customers and fleets, our international expansion as well as developing our hub strategy in the UK and Iceland.
‘The transition to green vehicles is happening. There are currently more than 975,000 fully electric cars on UK roads, and the ZEV mandate means 80% of all new cars and 70% of new vans sold by 2030 will be electric, rising to 100% by 2035. This will put us well on the road to 10 million electric vehicles within six years’ time. With this latest financial news InstaVolt are in the driver’s seat to deploy the number of chargers needed and invest heavily in installing a future-proofed network internationally.’
