EZ-Charge is raising finance through UK-based investing platform, Ethex, to raise £1.2m to install and operate 280 electric vehicle (EV) charging points in public car parks across Oxfordshire.
By partnering with Oxfordshire County Council and the University of Oxford, EZ-Charge are looking to develop their Park and Charge project in the county. Infrastructure works for the project will be starting on 1st November 2021 and ‘all charge points live’ for end of February 2022.
The 10-year bond offer is targeting a 6% return and investments are IFISA eligible, for potential tax-free returns. The money invested will be used to:
- develop the Oxfordshire Park & Charge project in local authority car parks, facilitating over 2,800 EVs from year one
- accelerate the adoption of EVs by providing high-quality, convenient charging infrastructure
- share their expertise and technology, supplying innovative EV charging solutions to meet the rapid growth of the EV market
- continue to develop state of the art charging technology, creating jobs and economic benefits for Oxfordshire.
Lisa Ashford, CEO of Ethex: “In the build up to COP26 the focus on meeting climate targets is stronger than ever. Part of meeting those targets in the UK is undoubtedly a shift away from vehicles powered by fossil fuels. But for that to be a realistic goal it has to be made easier to charge said vehicles. We’re proud to be supporting EZ-Charge as they set about tackling this challenge.”
Phil Shadbolt OBE, Chairman and CEO, EZ-Charge, said: “Finding innovative ways of tackling the number of EV charging points accessible to the general public is going to be a key challenge for enabling the spread of EVs in the UK. We believe that our project, in partnership with Oxfordshire Council and Oxford University, could prove to be an easily transferable infrastructure plan for the rest of the UK.”