RAPID charging network, InstaVolt has announced a significant capital raise from the company’s existing investors, EQT Infrastructure to ensure the pace of its roll out continues across the UK and Europe, including Iceland, Portugal, Spain, and the Republic of Ireland.
Following EQT Infrastructure’s acquisition of the business in February 2022, the additional funding shows confidence from EQT and further support for InstaVolt to become the largest charge point operator in every country it operates in.
2023 was an impressive year for InstaVolt, not only by maintaining its position as the UK’s largest charging network but growing it’s UK footprint to new heights as the InstaVolt network now has more than 2,000 chargers in operation or construction. As part of their pledge to meet customer demand for faster charging, InstaVolt are the only CPO that solely install ultra-rapid chargers over 100kW+.
Focus will remain on working with leading, premium brands across Europe to offer first class amenities, and deliver larger hubs. InstaVolt launched the largest ultra-rapid EV charging hub in Iceland in June 2023, and has planning approval for a super hub along the A34 in Winchester which will see 44 ultra-rapid chargers installed, 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, Chief Executive of InstaVolt said: “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.”
