Trojan Energy secures a £26m investment

On-street EV charging specialist Trojan Energy has secured a £26m investment to help with its growth plans. The funding comprises £8m from growth capital investor, BGF, alongside an £18m follow-up investment by the Scottish National Investment Bank (SNIB).

The company’s on-street charging stations are capable of charging speeds of up to 22kW and Trojan writes that “they sit flat and flush with the pavement leaving streetscapes clutter free.” In 2021, the company also received funding to help expand its production capacities and presence in the UK, however the amount was significantly less than the current investment.

Ian Mackenzie, CEO at Trojan Energy, said: “We welcome this new investment from BGF and follow-on funding from SNIB. This funding will allow Trojan Energy to continue its journey and deploy several thousand more charging points across the UK, serving 10s of thousands of customers. Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution.”

Nicola Douglas, executive director at SNIB, added: “Trojan Energy has gone from strength to strength and we are deploying more long-term support to help the company on its continued growth journey. We are pleased to allocate this £18m follow-on funding after our original investment in 2022.”

forecourttrader.co.uk, tech.eu, bgf.co.uk