Believ Secures £300 Million for UK EV Charger Expansion
Deal News | Jun 06, 2025 | UK Tech Funding
London-based energy tech company Believ has secured a £300 million investment facility aimed at installing at least 30,000 electric vehicle (EV) charge points across the UK. This initiative is part of the UK government's broader plan to phase out fossil-fuel powered vehicles by 2035 and achieve 300,000 public charge points by 2030, up from the current 80,000. Believ, led by CEO Guy Bartlett, will collaborate with both public and private sector organizations to execute this rollout. The funding is supported by Believ's joint owners, Liberty Global and Zouk Capital, along with financial backing from major banks such as Santander, ABN Amro, NatWest, and MUFG. This significant investment underscores a growing confidence in EV technology and infrastructure and highlights the essential role of private investment in supporting the UK's transition to electric transportation.
Sectors
- Energy Technology
- Financial Services
- Automotive
Geography
- United Kingdom – The investment and EV charge point rollout are focused on the UK, in line with the government's plans for transitioning to electric vehicles.
Industry
- Energy Technology – Believ is an energy tech company focusing on electric vehicle charge points, an integral part of the energy technology sector.
- Financial Services – The investment includes financial support from major banks, which positions this within the financial services sector.
- Automotive – The expansion of EV charging infrastructure is directly linked to the automotive sector, supporting the transition to electric vehicles.
Financials
- £300 million – Total investment facility provided for the installation of EV charge points.
- £381 million – Government fund allocated for local authorities to expand public charging infrastructure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Believ | Target company | Company | An energy technology company based in London, focused on expanding electric vehicle infrastructure. |
| Liberty Global | Investor | Company | An international telecommunications and television company, co-owner of Believ. |
| Zouk Capital | Investor | Company | A private equity and infrastructure investment fund, co-owner of Believ. |
| Santander | Financial backer | Company | A major banking institution involved in providing financial support for the rollout. |
| ABN Amro | Financial backer | Company | A Dutch bank providing financial backing for the investment. |
| NatWest | Financial backer | Company | A UK bank participating in the financial support for Believ's expansion. |
| MUFG | Financial backer | Company | Mitsubishi UFJ Financial Group, a Japanese bank involved in the funding. |
| Guy Bartlett | Chief executive of Believ | Person | CEO of Believ, overseeing the company's initiatives in EV infrastructure. |
| Lilian Greenwood | Minister in the Department of Transport | Government | A government official involved in the UK's transport and infrastructure policies. |
| Massimo Resta | Partner at Zouk Capital | Person | A partner at Zouk Capital, commenting on the significance of the investment. |