£110m investment will supercharge EV charging rollout
Connected Kerb has secured an investment of up to £110 million from Aviva Investors, allowing the company to press ahead with its plans of delivering 190,000 on-street EV chargers by 2030.
The company will also deliver EV charging infrastructure across the insurer’s pan-European real estate portfolio, which includes over 300 major owned assets in the UK alone – one of the country’s largest portfolios. Connected Kerb’s hardware and expertise will be key to supporting the electrification of this portfolio.
The multi-million-pound investment into UK public charging infrastructure will be critical to delivering the Government’s plan of installing more than 300,000 chargers by 2030. For context, the investment of up to £110m is equivalent to around a quarter of all the money committed by the UK Government under its flagship Local Electric Vehicle Infrastructure (LEVI) Fund, aimed at helping local authorities fund on-street EV charging projects.
Chris Pateman-Jones, CEO of Connected Kerb, said: “Our partnership with Aviva Investors will turn EV charging on its head. Successfully delivering the benefits of the EV transition to all – regardless of location, wealth, or circumstance – relies entirely on the UK’s ability to deploy convenient and reliable public charging at scale. For many, it has so far been neither.
“This investment combines the proven long-term reliability of Connected Kerb’s infrastructure with the financial resources and expertise of Aviva Investors to deploy charging, at scale, to all corners of the UK, giving individuals and businesses the confidence to make the switch to electric, and dramatically reduce carbon emissions and air pollution – it’s truly game-changing.”
Peter Howe, Co-Founder and Chairman of Connected Kerb, said: “Aviva’s investment into Connected Kerb is a vote of confidence in our unique technology and approach from one of the world’s biggest and most recognisable brands. The investment, and accompanying expertise from Aviva, will not only supercharge our UK rollout plans, but also lays the groundwork for expansion into other markets across Europe and into the US.”
Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors, added: “We are pleased to support Connected Kerb’s ambitious rollout of EV charging infrastructure across the UK, a sector at the heart of the transition towards a low carbon future. The funding we are providing will help to speed up the provision of EV charging to homes and businesses alike, whilst increasing accessibility. We also look forward to working with a management team which has market leading experience in building and operating public infrastructure and integrated smart networks, alongside excellent ESG credentials.”
EV ownership is skyrocketing. Sales so far this year have accounted for 14% of all new vehicle registrations, up 50% compared to this time last year. However, there is currently just one public-access on-street EV charger for every 52 EVs on UK roads. As a result, those without off-street parking or a dedicated parking space with domestic power supply – accounting for 62% of drivers find it harder to make the switch to electric. Currently, this group makes up as few as 9% of EV drivers.
Aviva Investors’ investment into Connected Kerb aims to rebalance the growing gap between EV ownership and public charging infrastructure. Connected Kerb’s growth plans, enabled by Aviva Investors, will also support green jobs in the UK where all of Connected Kerb’s chargers are manufactured, directly supporting the UK Government’s levelling up agenda.
Connected Kerb will have installed over 4,000 chargers in 2022 alone and the company plans to have 190,000 chargers installed by 2030.
The London-based company is also planning an expansion into the US, having recently been selected by the New York City Department of Transport and Newlab to deliver an on-street EV charging pilot project in New York that will provide a blueprint for the city to rollout 10,000 on-street chargers by 2030, cutting emissions and improving air quality for millions.
Image courtesy of Connected Kerb.
