FOR EV gains massive £10 million funding boom from the Scottish National Investment Bank

• Scottish National Investment Bank invests £10 million in FOR EV, advancing UK’s electric vehicle infrastructure mission.
• FOR EV and South of Scotland Enterprise establish a rapid charging hub at Loch Ryan ferry port.
• Funding supports plans to expand EV infrastructure, aiding Scotland’s net zero goals.

The Scottish National Investment Bank boosts Scotland’s EV infrastructure with £10 million funding for FOR EV

The Scottish National Investment Bank has injected £10 million of funding into FOR EV, Scotland’s leading private charge point operator. This boost pushes FOR EV’s mission to electrify the UK and enhance its fleet solutions for businesses towards success.

The partnership installed its first charge points at a state-of-the-art rapid charging hub at Loch Ryan ferry port, Cairnryan. The hub can simultaneously charge eight EVs and deliver a staggering 320 charging sessions daily. A strategic partnership between FOR EV and the South of Scotland Enterprise (SOSE) has fueled this initiative, with SOSE injecting £170,000 into the project.

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FOR EV’s Executive Director, Sales & Innovations Europe, Lindsay Wallace, commented: 

“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.

The £10m of follow-on investment from the Bank will support our ambitious plans to further improve EV infrastructure across the country. For example, we hope to work with SOSE to explore other prospective charging sites that will help accelerate the development of a robust EV infrastructure for Dumfries and Galloway and the Scottish Borders. This will support and encourage more businesses and communities to adopt electric vehicles as we journey towards a Net Zero future.”

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. We are pleased to back FOR EV’s ambitious plans and its ability to grow and scale as a company, delivering widespread environmental and economic impact.“

Scotland’s EV charging infrastructure has been developing rapidly. Plenty of high-level partnerships and strategic deployments are boosting the region’s emobility prospects. Now, this new injection of funding is sure to make a big difference as the company ramps up its installations.