Trojan Energy Secures £26M Funding for UK Expansion
Trojan Energy, an on-street electric vehicle charging specialist based in Aberdeen, Scotland, has secured £26M in funding. The investment round consists of £8M from growth capital investor BGF and a follow-on investment of £18M from the Scottish National Investment Bank. This funding will be used to support the further expansion of Trojan Energy's chargers across the UK. Led by CEO Ian Mackenzie, the company has developed innovative charging technology that allows for convenient and efficient on-street electric vehicle charging. The chargers are designed to be flush with the pavement and can offer charging speeds of up to 22kW. Additionally, Trojan Energy has developed the 'DEICER' system, which notifies drivers when a charger and charging bay becomes available, ensuring a seamless user experience. With a current workforce of 68 employees, the chargers are manufactured at the company's headquarters in Aberdeen.
Currently, Trojan Energy operates 600 charge points across four councils, namely Camden, Brent, Barnet, and Oxfordshire.
The company has recently partnered with Barnet Council to install approximately 1,300 on-street charge points. In addition to the ongoing expansion in these areas, Trojan Energy has various new opportunities in the pipeline across the UK. This includes projects in England as part of the Local Electric Vehicle Infrastructure (LEVI) fund. CEO Ian Mackenzie expressed excitement about the recent funding, stating that it will enable Trojan Energy to deploy thousands more charging points across the UK. By doing so, the company aims to become one of the largest providers of on-street EV charging in the country.
By focusing on creating a clutter-free charging solution, Trojan Energy is making significant contributions to the growth of electric vehicles in the UK. With the increased availability of on-street charging points, more EV drivers will be encouraged to make the switch, as they can conveniently charge their vehicles during everyday activities. This funding round not only validates Trojan Energy's innovative technology but also showcases the investors' confidence in the company's ability to create an efficient and user-friendly charging network that supports the widespread adoption of electric vehicles. As the demand for electric vehicles continues to rise, Trojan Energy is well-positioned to shape the future of on-street EV charging in the UK.
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