InstaVolt receives cash injection for charge point rollout

InstaVolt has received a cash injection from its owners to ensure the pace of its charge point rollout continues across the UK and Europe.

The charge point operator has announced a "significant capital raise" from EQT Infrastructure, which acquired the business in February 2022.

The funding will be used to support InstaVolt’s efforts to become the largest charge point operator in every country it operates in.

InstaVolt’s network in the UK now has more than 2,000 chargers in operation or construction in the UK.

It recently received planning approval for a super hub along the A34 in Winchester, which will see 44 ultra-rapid chargers installed.

InstaVolt has plans in place to install 11,000 chargers in the UK and Ireland, 5,000 across Spain and Portugal, and more than 300 in Iceland.

With a pipeline of more than 16,000 chargers, the Hampshire-based company has employed staff in all regions to fulfil its goal to be the largest charge point operator in Europe.

Adrian Keen, CEO of InstaVolt, said: “This additional funding is a sign of confidence in InstaVolt and the EV charging industry as a whole, while showing the ambition to invest in future infrastructure, not just across the UK, but on a global scale.

“In the last 18 months with EQT, we have been able to explore considerable new opportunities, including the introduction of Octopus and AllStar cards to ease the transition to EV for our customers and fleets, our international expansion as well as developing our hub strategy in the UK and Iceland.”

He concluded: “With this latest financial news, InstaVolt are in the driver’s seat to deploy the number of chargers needed and invest heavily in installing a future-proofed network internationally.”