char.gy secures funding to expand charging network in the UK

With the renewed investment from Zouk Capital, which increased the commitment from the UK Government-anchored Charging Infrastructure Investment Fund (CIIF) to £100 million, char.gy aims to expand its network reach. The network currently holds over 3,000 charge points but is planned to encompass about 100,000 by 2030.

The CIIF is a public-private fund established by the UK Government in 2019 with a funding pot of £420 million. The fund is managed by Zouk Capital and has even managed to establish ties with the Church in a community effort.

“We are delighted that with Zouk’s continued support, we will continue to expand our on-street charging network, making EV ownership viable for more individuals reliant on public charging, supporting their transition to sustainable transport,” said John Lewis, char.gy CEO, adding: “Our mission is to ensure EV adoption is accessible to everyone, creating parity between those with off-street parking and those without. The latest funding will help us accelerate our ambitious growth plans and will be directed towards the rollout of more charge points across the next five years. We are here to partner with local councils, providing the expertise and scale needed to drive the UK’s green agenda forward.”

In 2021, the last round of investment took place with the CIIF funding char.gy in the UK with £6.4 million in funds.

Source: Info via email