InstaVolt has received £110m in senior debt financing from a group of international lenders to help deliver the charging firms expansion plans.
The funding, which has come from Santander, Lloyds Bank, Investec, Natixis and NIBC, will enable InstaVolt to continue its expansion of rapid EV charging infrastructure throughout the UK.
This latest funding is a commitment to the EV industry and InstaVolt’s significant infrastructure expansion, as consumer uptake continues to build ahead of the government imposed 2030 sanction on the sale of petrol and diesel vehicles.
Adrian Keen, InstaVolt’s Chief Executive Officer, commented, “Having such prestigious banks come together to provide this facility is a sure sign of confidence in InstaVolt and the opportunity provided by the charging infrastructure industry more generally. This funding will form an important part of our strategy to expand our network within the UK and support our country’s continued green transition: a journey which requires organisations and bodies to come together wherever possible.
“InstaVolt has been at the forefront of the growth in public charging infrastructure, providing industry leading levels of reliability at fantastic locations across the country. We are witnessing a rapid transition to electric vehicles, and it is of fundamental importance that the infrastructure is in place to support that”.
The funding comes three months after EQT Infrastructure acquired InstaVolt, who share the company’s vision to build a nationwide network of 10,000 rapid EV chargers by 2032.