EV charging solution specialist Energy Park has secured a £35m investment to help improve access to convenient EV charging at apartment buildings with communal parking areas.
The money comes from Zouk Capital, manager of the government’s Charging Infrastructure Investment Fund (CIIF).
Energy Park says access to chargepoints at apartment buildings is often limited, with residents paying prices comparable to higher public charging rates. It intends to change this by giving residents access to a greater number of affordable chargepoints, 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 says it will remove many of the financial and operational barriers to large-scale EV infrastructure investment by offering a fully managed and funded scalable solution.
It will also offer tailored EV charging solutions for residential destination operators, such as holiday parks and hotels.
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 chargepoints 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.
“With our fully managed and funded approach, we make the process as straightforward as possible. We remove any of the stress associated with an initial capital outlay or the ongoing management and maintenance of the charge points, while also creating a customer-centric proposition that will help landlords build long-term relationships with their residents.”
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. This is fully in line with the CIIF’s central objective and we, at Zouk, are very excited to be joining Gavin and his team on their journey.”
Zouk Capital is the manager of the CIIF, the dedicated fund set up by the UK government in 2019 and backed by HM Treasury to help develop EV infrastructure throughout the UK.
