Basingstoke based InstaVolt set to consolidate position as UK market leader following new investment
Published: January 17 2024
The UK’s largest electric vehicle (EV) charging network, InstaVolt, has announced a substantial capital raise from an existing investor (EQT Infrastructure).
EQT Infrastructure first acquired InstaVolt in February 2022 and is now expanding its investment to ensure a continuous rollout of EV chargers across the UK and Europe.
The chargepoint operator (CPO) currently has more than 2,000 chargers in either operation or construction and is the only company that installs solely ultra-rapid chargers over 100kW+.
In June 2023, InstaVolt launched one of the largest ultra-rapid EV charging hubs in Iceland and has since received planning approval for a “super hub” along the A34 in Winchester which will see 44 ultra-rapid chargers installed.
As it stands, InstaVolt plans to install 11,000 chargers in the UK and Ireland, 5,000 across Spain and Portugal, and over 300 in Iceland.
These numbers far exceed the company’s initial goal in 2022 of reaching 10,000 chargers installed by 2032.
Adrian Keen, CEO of InstaVolt, said: “This additional funding is a sign of confidence in InstaVolt and the EV charging industry as a whole, while showing the ambition to invest in future infrastructure, not just across the UK, but on a global scale.