Osprey Charging’s continued growth has been backed by a group of financial institutions, including the UK Government’s National Wealth Fund, to accelerate the roll out of super-fast EV charging hubs across the UK.
The club of lenders, Novuna Business Finance (part of Mitsubishi HC Capital UK PLC), Société Générale, Aldermore and the UK Government’s National Wealth Fund, have provided £110m in senior debt facilities.
Osprey is building on a existing strong relationship with Novuna, alongside creating new relationships with lenders in a maturing EV charging market.
The company also said that it retains strong support from its original equity investors, Cube Infrastructure Fund II and Investec Bank.
The EV charging market is seen as a key sector for the National Wealth Fund. Its backing for Osprey’s rapid charging roll out aims to support UK Government decarbonisation targets by “helping to ensure there are enough chargers to inspire confidence and help drivers make the switch to EVs, ahead of the 2030 ban on sales of new vehicles powered solely by internal combustion engines”, it said.
Osprey is one of the UK’s largest public EV charging networks, providing reliable rapid and ultra-rapid charging infrastructure with uptime exceeding 99%.
In its next stage of deployment, Osprey will continue to target what it described as “quality over quantity” with a “focus on customer service, reliable operations, and financial strength”.
In the company has received numerous awards for its work, including Transport + Energy’s Best EV Rapid Charging Network in 2023 and 2024.
Osprey Charging was advised by RBC Capital Markets (Financial Advisor) and Linklaters (Legal Advisor). The financial institutions were advised by Clifford Chance (Legal Advisor).
Ian Johnston, CEO of Osprey Charging, said:
“We’re delighted that financial institutions are supporting the work our fantastic, dedicated team are doing. At Osprey, we build the charging hubs customers want – clean and secure, super-fast, easy to use and easy to pay for. In short, where I would choose to stop and re-charge with my family.”
Rachel Reeves, Chancellor of the Exchequer, said:
“We’re investing in Britain’s renewal, bringing our infrastructure into the 21st century, improving people’s day to day lives, and putting more money into their pockets through economic growth.
“The National Wealth Fund is helping us achieve that change, backing the industries of the future and accelerating Britain’s transition to a clean energy superpower.”
Philippe Bazin, Head of Sustainable Energy at Novuna Business Finance commented:
“This latest transaction builds on our strong existing relationship with Osprey and reflects our shared commitment to accelerating the electrification of our road transportation systems.
“By financing high-quality charging infrastructure and Electric Vehicles, we’re proud to be enabling practical, scalable solutions for businesses and consumers to make the shift to sustainable mobility.”
Alex Kipling, Head of Infrastructure Finance, London, at Société Générale, said:
“Osprey will support the UK’s vital transition from internal combustion engine vehicles to electric vehicles by expanding charging infrastructure. We are pleased to support Osprey as they grow their network, a project that aligns well with the bank’s ESG ambitions.”
Lauren Pamma, Head of Energy and Infrastructure at Aldermore, said:
“We recognise that delivering the right charging infrastructure in the right places is absolutely critical to accelerating electric vehicle adoption across the UK. We’re proud to partner with Osprey Charging and this multi-bank facility underlines our commitment to backing high-quality, sustainable energy projects that deliver real benefits for drivers, businesses and local communities.”
John Flint, National Wealth Fund CEO, said:
“The successful transition to EVs is key for net zero but this relies heavily on ensuring people can access reliable charging where and when they need it.
“Our financing for Osprey, one of the UK’s leading charge point operators, will directly support the roll out of thousands of new rapid charge points at public locations across the country, helping drivers to make the switch to electric vehicles and the decarbonisation of transport in the UK.”
Images courtesy of Osprey Charging
