On-street EV charging specialist, Trojan Energy, has secured a £26m investment to help with its growth plans. The funding comprises £8m from growth capital investor, BGF, alongside an £18m follow-on investment by the Scottish National Investment Bank (SNIB).
Launched in 2016, Trojan Energy’s patented charging technology aims to provide convenient on-street EV charging, supporting the EV transition for the nine million households in the UK without access to a driveway.
Trojan Energy chargers sit flat and flush with the pavement leaving streetscapes ‘clutter free’ and offering charging speeds of up to 22kW. The business has also developed the ‘DEICER’ system to alert drivers when a charger and charging bay becomes available to ensure a seamless user experience.
The chargers are manufactured at Trojan Energy’s headquarters in Aberdeen.
Trojan Energy recently partnered with Barnet Council to install around 1,300 on-street charge points, and there is a strong pipeline of new opportunities across the UK, including in England as part of the Local Electric Vehicle Infrastructure (LEVI) fund.
Ian Mackenzie, CEO at Trojan Energy, said: “We welcome this new investment from BGF and follow-on funding from SNIB. This funding will allow Trojan Energy to continue its journey and deploy several thousand more charging points across the UK, serving 10s of thousands of customers. Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution.”
Keith Barclay, investor at BGF, said: “It’s great to be supporting Trojan Energy’s growth journey as they continue to roll out chargers and make the EV transition accessible for the millions of households without a driveway.”
Nicola Douglas, executive director at SNIB, said: “Trojan Energy has gone from strength to strength and we are deploying more long-term support to help the company on its continued growth journey. We are pleased to allocate this £18m follow-on funding after our original investment in 2022. This investment aligns with our net zero mission as Trojan Energy’s green technology will play a part in supporting Scotland and the UK to reach important net zero targets by opening up EV charging to more potential users.”