- Trojan Energy secures £26 million for on-street charging expansion from BGF and the Scottish National Investment Bank.
- Funds will speed up UK-wide deployment, addressing EV charging accessibility for households without driveways.
- Unique ‘clutter-free’ design positions Trojan Energy chargers as distinctive players in the evolving EV infrastructure landscape.
On-street charging is set for a major boost with Trojan Energy’s £26 million funding
Trojan Energy, the on-street EV charging specialist, has secured a substantial £26 million investment. This financial boost comprises £8 million from BGF and an additional £18 million from the Scottish National Investment Bank. The investment will fuel Trojan Energy’s strategic expansion plans.
Trojan Energy has been pivotal in addressing the challenge of EV charging accessibility since its inception in 2016. Particularly for the estimated nine million UK households lacking a private driveway. The company’s proprietary charging technology facilitates on-street charging. The initiative aligns with the UK government’s target to expand the public charging network from 50,000 to over 300,000 by 2030.
Trojan Energy chargers are strategically positioned flat and flush with the pavement, creating a ‘clutter-free’ urban landscape. They provide charging speeds of up to 22kW. Additionally, these chargers feature the innovative ‘DEICER’ system. This ensures a seamless user experience by alerting drivers when a charging bay becomes available.
The £26 million positions Trojan Energy for an accelerated rollout of chargers across the UK. Noteworthy is the company’s collaboration with Barnet Council, aiming to install approximately 1,300 on-street charge points. The company is also eyeing promising opportunities, including participation in England’s Local Electric Vehicle Infrastructure (LEVI) fund.
Ian Mackenzie, Trojan Energy’s CEO:
“We welcome this new investment from BGF and follow on funding from the Bank. This funding will allow Trojan Energy to continue its journey and deploy several thousand more charging points across the UK, serving tens of thousands of customers. Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution.”
Keith Barclay, Investor at BGF, said:
“It’s great to be supporting Trojan Energy’s growth journey as they continue to roll out chargers and make the electric vehicle transition accessible for the millions of households without a driveway. The business has developed a high-quality product and the ‘clutter free’ element is a key differentiator. We look forward to working closely with Ian and the wider team to reach their ambitious goals and are excited to add another innovative company to BGF’s growing ‘climate tech’ portfolio.”
With a current workforce of 68 based in Aberdeen, Trojan Energy remains committed to creating sustainable employment opportunities. This investment underscores the confidence of major financial players in the company’s potential impact on the evolving EV infrastructure landscape in the UK.
Nicola Douglas, Executive Director at the Bank, said:
“Trojan Energy has gone from strength to strength, and we are deploying more long-term support to help the company on its continued growth journey. We are pleased to allocate this £18 million follow-on funding after our original investment in 2022. This investment aligns with our net zero mission as Trojan Energy’s green technology will play a part in supporting Scotland and the UK to reach important net zero targets by opening up EV charging to more potential users.”