Osprey Charging will accelerate the rollout of its super-fast electric vehicle (EV) charging hubs, following the acquisition of a funding package.
Novuna Business Finance, Société Générale, Aldermore and the UK Government’s National Wealth Fund have provided a combined £110m in senior debt facilities.
Ian Johnston, CEO at Osprey Charging, said: “We’re delighted that financial institutions are supporting the work our fantastic, dedicated team are doing.
“At Osprey, we build the charging hubs customers want – clean and secure, super-fast, easy to use and easy to pay for.
“In short, where I would choose to stop and re-charge with my family.”
The National Wealth Fund supported Osprey Charging’s growth as a way to support the ZEV mandate, and increase confidence in EV infrastructure.
Chancellor of the Exchequer Rachel Reeves said: “We’re investing in Britain’s renewal, bringing our infrastructure into the 21st century, improving people’s day to day lives, and putting more money into their pockets through economic growth.”
£25m was provided by the fund, with the remainder coming from the private sector.
Lauren Pamma, head of energy and infrastructure at Aldermore, said: “We recognise that delivering the right charging infrastructure in the right places is absolutely critical to accelerating electric vehicle adoption across the UK.
“We’re proud to partner with Osprey Charging and this multi‑bank facility underlines our commitment to backing high‑quality, sustainable energy projects that deliver real benefits for drivers, businesses and local communities.”
Osprey’s charging network has an uptime of over 99%, and the firm says it will continue to target quality over quantity throughout its expansion.
Alex Kipling, head of infrastructure finance, London, at Société Générale, said: “Osprey will support the UK’s vital transition from internal combustion engine vehicles to electric vehicles by expanding charging infrastructure.
“We are pleased to support Osprey as they grow their network, a project that aligns well with the bank’s ESG ambitions.”
