Scottish bank invests in Forev
The Scottish National Investment Bank has invested two million pounds in charging network operator Forev. The capital will help Forev to build a network of over 1,700 charging points at public locations across Scotland.
The investment is equivalent to 2.35 million euros. According to the bank’s statement, the investment will be used primarily to build destination chargers. However, Forev understands destination charging to mean not only AC charging points, as is usually the case, but also DC chargers.
According to the bank, the two million pounds will enable Forev to continue the first phase of the development – a “robust pipeline of locations” is already available. The investment is also in line with the bank’s mission to support Scotland’s progress towards net-zero emissions, it said.
“The decarbonisation of transport is a significant challenge and one which is critical in the transition to net zero,” said Eilidh Mactaggart, CEO of the Scottish National Investment Bank. “Forev’s roll-out strategy has the potential to have a significant positive impact on the uptake of electric vehicles in Scotland, specifically by providing more charging options for EV drivers who do not have the ability to charge at home and drivers on the move.”
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