Engenie to double charging points

Engenie is planning to double the current number of rapid charge points in the UK by 2024, funded by a £35m investment commitment from Cube Infrastructure Fund II.

Engenie will install over 2,000 rapid charging points across the UK, accessible at public sites, including supermarkets and retail parks, enabling EV drivers to charge quickly and easily at convenient and attractive locations.

“The EV market is marching into the mainstream. Private companies are now seizing the EV investment opportunity and nearly 75 per cent of car buyers are considering an EV as their next vehicle,” said Ian Johnston, the CEO of Engenie. “The EV tipping point is coming and this significant investment commitment positions us at the forefront of this burgeoning market.”

Last year Engenie announced partnerships with Marston’s Inns and Taverns, M7 Real Estate and Cardiff Council. Previously the company had secured £5m of funding from Investec, a key early institutional investor that recognised the potential of the business, which will retain its stake in Engenie. Cube Infrastructure Fund II, is a €1.04bn European infrastructure fund managed by Cube Infrastructure Managers that has previously invested in renewable energy projects, district heating networks, public transport providers, and fibre networks including London-based G Networks.

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