27 April 2023
CTEK partner EVC secures £165 million capital to significantly increase EV charging network in UK
CTEK partner and Electric vehicle (EV) charging company, EVC, has secured up to £165 million of capital, to accelerate EVC’s ambition to deliver up to 100,000 EV charge points across the UK by 2027, and secure portfolio opportunities with larger landlords.
EVC funds and installs EV charge points under long-term contractual lease agreements, at ‘destinations’, which include hospitality, leisure and retail venues, workplaces, and multi-dwelling residential units. Projects range from individual chargers through to larger EV charging hubs, that utilize both AC and DC charging points with a capacity between 22kW and 300kW.
Cecilia Routledge, global director energy & facilities said “We would firstly like to congratulate EVC on securing this additional capital, enabling them to play a massive part in the rapid development of EV charging networks across the UK. We are excited that we have an important part to play in EVC’s network expansion, and look forward to supporting them, as they continue to deliver excellence in terms of hardware, software and an unrivalled customer service.”
CTEK signed a 5-year partnership agreement with EVC back in 2020, that has seen the supply of AC charging equipment and scalable load balancing solutions. The CTEK solution is centered around the award-winning CTEK CHARGESTORM CONNECTED 2 Electrical Vehicle Supply Equipment (EVSE), widely recognised for its safety, design and integrated technology.
The additional £165 million of capital secured by EVC will, they say, “boost destination EV charging infrastructure to eliminate ‘range anxiety’ experienced by EV drivers concerned about finding reliable charge points.”
Capital secured has been provided from funds managed by Denham Sustainable Infrastructure (DSI), an arm of global energy transition investment firm, Denham Capital. Nick Ballamy, chief executive officer of EVC, said: “Denham Sustainable Infrastructure’s commitment – one of the largest seen in the UK EV charging infrastructure sector – will turbocharge our ability to provide businesses and customers across the UK with the confidence to make the switch and join the electric vehicle revolution.”