New investment from CIIF to accelerate EV infrastructure growth
New investment from Charging Infrastructure Investment Fund (CIIF)Energy Park, a provider of electric vehicle (EV) charging solutions for apartment buildings, today announces that it has secured an initial £35m investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund (CIIF), to accelerate its growth in the UK. Energy Park is set to drive the UK’s adoption of EVs by improving access to convenient EV charging at apartment buildings with communal parking areas. Due to the challenges of getting EV infrastructure into these communal car parks, the growing demand for EV charge points at apartment buildings has so far been largely overlooked, with home driveway and public charging being prioritised. But with an estimated 100,000 apartment buildings in the UK, Energy Park now wants to address this need and make EV ownership an option for everyone, regardless of where they live.
Today, access to charge points at apartment buildings is often limited, with residents paying prices comparable to higher public charging rates.
Energy Park intends to change this by giving residents access to a greater number of affordable charge points, while providing a reliable service and dedicated ongoing customer support. For residential landlords, such as housing associations, private landlords and property management companies, Energy Park will remove many of the financial and operational barriers to large-scale EV infrastructure investment by offering a fully managed and funded scalable solution. Energy Park will also offer tailored EV charging solutions for residential destination operators, such as holiday parks and hotels. With their focus on residential sites, Energy Park will add significant momentum to the UK’s transition to EVs and the country’s ambitions to reach net zero by 2050.
Energy Park Founder, Gavin Malone, said: “We’re delighted to be partnering with Zouk Capital to drive the growth of EV infrastructure in the UK. The demand for affordable EV charge points at apartment buildings and residential destinations is increasing rapidly, and with Zouk’s funding we can grow quickly to become a leading provider of tailored EV charging solutions for more residential landlords. George Ridd, Partner at Zouk, said: “There are a huge number of drivers in the UK who rely on communal residential parking facilities and for whom accessing the convenience of charging at home has not been straightforward. With their deep knowledge and expertise in EV charging solutions, and their offer of fully funded and scalable EV charging infrastructure, Energy Park is on a mission to remove barriers, unlock demand and ultimately accelerate the electrification of the UK’s vehicles.
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| Investors | Investment Focus | Startup Investments | Round Size | Connect |
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