EV charging network Engenie has anniunced plans to invest £35 million to install 2000 new rapid charge points in the UK by 2024. The plans are being funded by Cube Infrastructure Fund II and the company aims to install the first 100 by christmas this year.
The comaony said Zap Map recorded 2,189 rapid chargers across the country at the end of May 2019, and the deal will double the current number available. ”Nearly 75% of car buyers are considering an EV as their next vehicle,” said Engenie chief executive Ian Johnston. “Those organisations offering public car parking can position themselves for the future by providing new value to customers and driving increased footfall by installing rapid chargers. The EV tipping point is coming and this significant investment commitment positions us at the forefront of this burgeoning market.”
Engenie works with landowners to deliver fully funded and maintained rapid charging units, powered by 100% renewable energy. In the last year it has announced partnerships with Marston’s Inns and Taverns, M7 Real Estate and Cardiff Council. The points require no membership or connection fee and operate a simple contactless payment method. The 50kW charger adds 80 miles of charge in 30min (depending on the battery).
Cube Infrastructure Fund II, a €1.04 billion European infrastructure fund managed by Cube Infrastructure Managers, has previously invested in renewable energy projects, district heating networks, public transport providers, and fibre networks including London-based G Networks.