EVC secures £165m investment to install 100,000 UK EV Chargepoints

EVC offers both fully funded and managed options for ‘Destination’ EV chargepoints. The investment by Denham is one of the largest in a UK EV chargepoint infrastructure provider

UK-based electric vehicle charging company, EVC, has secured £165 million investment from  venture capitalist fund Denham Sustainable Infrastructure (“DSI”), an arm of global energy transition investment firm, Denham Capital.

The investment will be used 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’s core focus is on ‘destination’ charging options for its growing customer base installing EV chargepoints under long-term contractual lease agreements at ‘destinations’.

Target destinations include hospitality, leisure and retail venues, workplaces and multi-dwelling residential units.

Through boosting destination EV charging infrastructure, EVC aims to eliminate the so-called ‘range anxiety’ experienced by EV drivers concerned about finding reliable charge points. Projects range from individual chargers through to larger EV charging hubs and utilise charging points with a capacity between 22kW and 300kW.

EVC’s fully funded service aims to provide innovative and scalable charging infrastructure alongside charging management software. The company manages planning requirements, undertaking the installation and maintenance of each charger.

For landlords who want to invest their own capital, EVC offers a Managed Service, whereby EVC undertakes the installation and operates the EV charger on the landlord’s behalf.

EVC was founded in early 2020 and has attracted a number of key customers under long-term lease agreements as it has developed and refined its business model. To date, the Company has been funded by Oasthouse Ventures, James Randall, Lucky Gohler and through capital raised in 2022 from high-net-worth individuals. The partnership with Denham Sustainable Infrastructure will propel EVC as it moves to the next phase of its growth.

Nick Ballamy, CEO of EVC said: “Denham Sustainable Infrastructure’s commitment will turbocharge our ability to provide businesses and customers across the nation with the confidence to make the switch and join the electric vehicle revolution.

“We’re seeing pent-up demand across our markets and this investment will enable us to accelerate delivery to meet those needs. We will deploy our proprietary platform at scale, enabling EV drivers to have easy access to our reliable network.

“For our clients, this is about retaining business and driving additional footfall to their sites. By providing drivers with the confidence to make the switch to electric, we can help the UK meet its ambitious net zero goals.”

https://www.ev-chargersuk.co.uk/

EVC was advised by Cameron Barney LLP and Shoosmiths LLP. Denham Capital was advised by Fladgate LLP.

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