Electric vehicle smart charging infrastructure specialist Connected Kerb has secured a £55m equity investment from the National Wealth Fund to support its plans to expand the UK’s on-street EV charging network.
Chancellor Rachel Reeves announced the investment by NWF, which is owned and backed by HM Treasury, but operationally independent, alongside a further £10m ordinary equity investment from Aviva Investors, the global asset management business of Aviva plc.
This substantial investment into the UK’s public charging infrastructure is a significant step towards delivering the forecast requirement of at least 300,000 public EV chargers by 2030 and will support Connected Kerb’s ambitious plans to grow its charging network towards 40,000 sockets, up from the 9,000 already built at the end of 2024.
Last month, the National Audit Office announced that the number of public electric vehicle charge point installations is currently on track to meet the 2030 target, but that challenges need to be addressed to ensure fairer access to the public charging infrastructure.
Connected Kerb works with local authorities to build and operate community EV charging in residential streets and local public car parks, and is committed to ensuring that no one in the UK lives further than a five-minute walk from a charger.
“Our charge point network is going from strength to strength, and it’s brilliant to see Connected Kerb secure a £65m boost to expand its charging network – a great vote of confidence in the EV transition,” said Future of Roads Minister Lilian Greenwood.
“The funding follows a record of nearly 20k public charge points added last year. With a further £6bn in the pipeline from industry by 2030, the switch to EVs is driving investment across the country, supporting jobs and making the UK a clean energy superpower to deliver our plan for change.”
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Juliet Davenport, Connected Kerb chair said: “We are incredibly proud to receive this substantial investment from the National Wealth Fund and Aviva Investors. This funding will enable us to significantly expand our EV charging network, making electric vehicle charging accessible to everyone, especially those without driveways.
“This investment not only supports our growth but also aligns with our commitment to reducing carbon emissions and promoting flexibly clean energy solutions across the UK.”
Last week, Cotswold District Council announced its approval for more charging stations, operated by Connected Kerb, to be installed in four council owned car parks. Between now and March, 24 charge points will be installed across Stow-on-the-Wold, Tetbury, Moreton-in-Marsh, and Cirencester by the charge point operator. The chosen locations for the new charging points have been strategically selected to assist residents without off-street parking, enabling them to charge their vehicles overnight.
Connected Kerb is both a Zap-Pay partner and dynamic data partner, providing a live feed of points that helps to show the most up-to-date charge point information possible. This means Zapmap can show if a charge point is in use or available, alongside the traditional reports indicating whether the unit is operational or out of order.
Users of the Zapmap app can also use Zap-Pay to pay for charging sessions at any Connected Kerb charge points.