£4.1m deal for on-street EV charging solution

Tech start-up Trojan Energy has secured £4.1m worth of funding to support the roll-out of their new on-street electric vehicle (EV) charging points.

Following the government’s plan to phase out the sale of petrol and diesel vehicles by 2035, EV sales are expected to continue increasing in the coming years. However, one major barrier for EV owners is finding on-street charging. 

According to Trojan Energy, in the UK 10 million people park their cars on the streets every day, so increasing the number of EV charge points that are available is essential. 

This funding will be used by the start-up to advance the testing and certification of their product. They aim to install the first 200 units in Brent and Camden Councils by early 2021. The company also plans to follow this with a similar product that can be installed on driveways for homeowners. 

The new charging points are flat and flush to the pavement, users just have to carry a charging ‘lance’ in their vehicles and plug the lance into the connector point to start charging.

Ian Mackenzie, CEO, Trojan Energy said: ‘This is such an important milestone for Trojan Energy.

‘Ever since we started this business, we have wanted to ensure that the benefits of the low carbon transition can be realised by everyone and not just those with a driveway.

‘With this investment, our vision has moved a step closer. The rewards for our customers and our planet will be massive and prove the point that a big idea and great engineering can change the world.’

Fraser Lusty, director of private investors, Equity Gap said: ‘We are pleased to back Trojan Energy and its strong Scottish team who have brought their expertise from the Oil & Gas sector to partner with industry, energy suppliers and councils to help accelerate the adoption of EV usage in dense urban areas where the technology is needed most.

‘Their technology is pivotal to the greater adoption of EV’s, the future decarbonising of our transport infrastructure and central to the UK government’s target for net-zero emissions.’

Photo Credit – Trojan Energy