Electric drive

£10m SNIB top-up expands FOR EV charge points

FOR EV charging hub at Loch Ryan ferry port

Scotland’s only private electric vehicle charge point operator, FOR EV, has received a £10 million follow-on investment from the Scottish National Investment Bank.

It follows an initial investment of £2m by the bank in 2021, followed by £10m the following year.

The latest funding will help FOR EV deliver accessible electric vehicle charging hubs across the UK and further expand its fleet proposition, which offers bespoke solutions for fleets of all sizes to transition to a net zero future. 

The latest of these points was unveiled this week at Loch Ryan ferry port in Cairnryan, near Stranraer, where Stena Line’s 1.3m annual customers will now have access to rapid electric vehicle charging.

The new charging hub, which can charge eight electric vehicles simultaneously and provide around 320 charging sessions a day, is the result of a public-private joint venture between FOR EV and South of Scotland Enterprise (SOSE).

SOSE has invested £170,000 into the facility within the ‘landside’ area of the port, which forms part of the UK’s busiest domestic short sea route, Cairnryan-Belfast.

Andy Clapp, executive director at the Scottish National Investment Bank said: “The provision of sufficient charging points is an essential part of Scotland’s net zero transition.”

FOR EV’s executive director, sales & innovations Europe, Lindsay Wallace said: “Our newest hub will future-proof Stena Line’s Loch Ryan Port while also providing local people, who have until now suffered from a dearth of EV charging infrastructure in their area, with improved access to high-quality charging facilities.”

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