Char.gy funding news – EV Charging Startup Char.gy Secures €118.25Million in Funding

The UK-based corporation claims that this project will meet the demands of the over 11 million households in the country—roughly 40% of all households—who do not currently have access to off-street parking facilities.

Since its founding in 2016, it says it has grown to be a significant partner for UK councils, assisting with the installation of public charging stations financed by the CIIF, a public-private fund managed by Zouk Capital and valued at £420M (about €496.87M). The fund was started by the UK government in 2019.

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In order to expedite the statewide deployment of EV charging infrastructure, it committed £6.4 million in 2021, followed by a second round of investments totaling £65 million in 2022. Recently, they received a third round of funding, increasing their total investment to £100 million.

George Ridd, Partner at Zouk Capital, says, “Zouk’s increased commitment to Char.gy comes at a pivotal time as the EV charging market experiences exponential growth. Collaborating with dedicated partners like Char.gy allows local authorities to provide accessible, reliable charging infrastructure to their residents now and into the future.”

Over the next five years, the funding will hasten char.gy's rollout of public on-street charging infrastructure throughout the United Kingdom.

By 2030, the company hopes to grow its network of over 3,000 charging stations to 100,000, making the switch easier for up to a million drivers. With less reliance on fossil fuels, CO2 emissions and other pollutants will be reduced, leading to cleaner, healthier communities in the UK.

John Lewis, Char.gy’s CEO, says, “We are delighted that with Zouk’s continued support, we will continue to expand our on-street charging network, making EV ownership viable for more individuals reliant on public charging, supporting their transition to sustainable transport. Our mission is to ensure EV adoption is accessible to everyone, creating parity between those with off-street parking and those without. The latest funding will help us accelerate our ambitious growth plans and will be directed towards the rollout of more charge points across the next five years. We are here to partner with local councils, providing the expertise and scale needed to drive the UK’s green agenda forward,”.

About Char.gy

Founded by Richard Stobart, Char.gy is a UK-based company that supplies and manages a network of more than 3,000 public charging stations for electric vehicles (EVs).

The company is dedicated to providing everyone with access to dependable, practical, and reasonably priced charging infrastructure, with a focus on meeting the needs of the 40% of UK families without own driveways that rely on public charging options.