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On-street EV charging firm raises £26 million

A lance fits into an on-street charging point

Trojan Energy, the on-street electric vehicle charging specialist, has secured a £26 million investment to facilitate its growth plans.

The funding round comprises £18 million follow-on support from the Scottish National Investment Bank and £8m from growth capital investor, BGF.

Launched in 2016, Trojan Energy’s patented charging technology provides on-street electric vehicle (EV) charging, supporting the EV transition for nine million households in the UK without access to a driveway. 

The UK government has the ambition to grow the UK’s network of public charge points from around 50,000 today to over 300,000 by 2030.

This charging infrastructure will support the continued acceleration in EV sales and alleviate drivers’ concerns about the availability of public charging points. Trojan’s chargers will contribute towards this in a unique way by making charging accessible for many more drivers.

Trojan Energy chargers uniquely 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 with headcount now standing at 68. The business is committed to creating further high-quality green jobs and supporting the UK’s transition to net zero. 

The new investment from BGF and SNIB will support the continued rollout of Trojan Energy chargers across the UK. The company 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. 

Advisors on the deal included EY, CMS, Addleshaw Goddard, Shepherd and Wedderburn, WJM, PwC Strategy&, BDO, Jon Addis Consulting, RSC Associates, Apex Consulting and HR Insights.

Existing Investors include Scottish Enterprise, Equity Gap, Alba Equity and Social Investment Scotland.

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