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Posted on December 21, 2016 by staff

InstaVolt car chargers in ‘3k locations by 2020’ after boost

Electric vehicle firm InstaVolt will make its charging points available in 3,000 locations by 2020 following a £12m equity investment from Zouk Capital.

Local authorities, businesses and landowners across the UK who choose install its charging points will receive a financial return for housing them.

As part of a five-year growth plan, the Basingstoke –based company “has the potential to dramatically reduce pollution in the UK”.

Chief executive Tim Payne told Business Insider: “This is recognised by the government through the fact it is investing millions in improving charging infrastructure.”

Colin Campbell, partner at Zouk Capital, added: “Our confidence in InstaVolt’s experienced management team combined with the company’s distinctive open access rapid charging model lead us to believe that InstaVolt will be one of the frontrunners in this fast growing space.

“In our view, the rapid charging market is a very important part of the electric vehicle revolution and improving air quality.”