Octopus Energy has secured funding for new EV projects

Octopus Energy has been chosen to power a new generation of on-street electric vehicle (EV) charging points. 

Octopus Energy has secured funding from the Department for Business, Energy & Industrial Strategy (BEIS) for two new EV charging infrastructure projects. 

The first project, Agile Streets, will develop a new business model to encourage EV drivers to switch to a flexible charging schedule while connected to new on-street charge points. 

The second projects, SmartSTEP, will integrate smart meter technology with novel charge points, which were developed as part of the Innovate UK STEP project. The charge points are slotted into the pavement and accessed via a lance issued to users. 

Both projects will investigate how the smart metering system can be used to optimise on-street EV charging and to balance the grid in a future renewable energy system.

Agile Streets and SmartSTEP are the only projects funded under the governments ‘Beyond Off-Street’ programme.

Phase one of the trials began in July 2020. 

Zoisa Walton, director of Octopus Energy for Business, said: ‘Whether on streets, at petrol stations or in the home, we need electric vehicle chargers to be accessible everywhere if the green energy revolution is to keep powering ahead.

‘We’re incredibly proud to have been picked to lead, together with our partners, the development of the next generation of charging infrastructure, enabled by smart meters, with these two projects. Creating an effortless smart charging network is crucial to dispel concerns of EV critics and accelerate the electrification of transport.’ 

In related news, earlier this month (August 8) the EV Network (EVN) has signed a new £50m investment to develop the ‘next generation’ of EV charging hubs.

The initial £50m commitment is the first stage of an up to £200m programme of investment which will be provided by clean energy investor Sustainable Development Capital.

Photo Credit – Pixabay