Connected Kerb Expands UK EV Charging with £65m Funding
Deal News | Feb 03, 2025 | Business Cloud
Connected Kerb, a specialist in electric vehicle smart charging infrastructure, has secured a £55 million equity investment from the National Wealth Fund and a further £10 million from Aviva Investors. This investment aims to bolster the UK's on-street EV charging network, accelerating the country's transition towards EV usage. With the forecast requirement of at least 300,000 public EV chargers by 2030, Connected Kerb plans to expand from its present 9,000 sockets to 40,000. This step aligns with strategic goals to ensure equitable access to the UK public charging infrastructure. In support of a sustainable future, the deal signals growing confidence in the UK's EV infrastructure and its role as a clean energy leader. Alongside government endorsements, Connected Kerb's role as a Zap-Pay partner further integrates its services with real-time data solutions for EV users.
Sectors
- Electric Vehicle Infrastructure
- Clean Energy
- Asset Management
Geography
- United Kingdom – The article focuses on investments aimed at expanding the UK's EV charging infrastructure, with implications for national transportation and energy sectors.
Industry
- Electric Vehicle Infrastructure – The article discusses investments in the development and expansion of EV charging networks, vital to the growing need for infrastructure supporting electric vehicles.
- Clean Energy – Aligned with goals to reduce carbon emissions, the investments into Connected Kerb promote initiatives supporting sustainable and clean energy solutions.
- Asset Management – Aviva Investors' participation in the funding highlights the involvement of the asset management industry in infrastructure projects.
Financials
- £65 million – Total investment in Connected Kerb, including £55 million from the National Wealth Fund and £10 million from Aviva Investors.
- £55 million – Equity investment from the National Wealth Fund to support Connected Kerb's expansion plans.
- £10 million – Equity investment from Aviva Investors in support of Connected Kerb's growth.
- £6 billion – Future investment target for the UK's EV infrastructure by 2030.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Connected Kerb | Target Company | Company | An EV smart charging infrastructure specialist focused on expanding public charging networks in the UK. |
| National Wealth Fund | Investor | Government | Owned and backed by HM Treasury, provides significant capital investment in public-oriented infrastructure developments. |
| Aviva Investors | Investor | Company | A global asset management company providing additional funding support for Connected Kerb's expansion. |
| HM Treasury | Backer | Government | The central economic and finance ministry in the UK, supports the National Wealth Fund's investments. |
| Cotswold District Council | Partner | Government | Local authority supporting the deployment of public EV charge points operated by Connected Kerb. |
| Zapmap | Technology Partner | Company | Provides real-time data and payment solutions for Connected Kerb's EV charging network. |