Connected Kerb has secured an investment of up to £110 million from Aviva Investors to support its plans of delivering 190,000 on-street EV chargers by 2030.
As part of the deal, the London-based company will also deliver EV charging infrastructure across Aviva’s pan-European real estate portfolio, which includes over 300 major owned assets in the UK alone, one of the country’s largest portfolios.
The investment will be critical to delivering the Government’s plan of installing more than 300,000 chargers by 2030.
This investment combines Connected Kerb’s infrastructure with the financial resources and expertise of Aviva Investors, the global asset management business of Aviva plc, to deploy charging to all corners of the UK, the company’s CEO Chris Pateman-Jones said. This will give “individuals and businesses the confidence to make the switch to electric, and dramatically reduce carbon emissions and air pollution”.
“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,” said Peter Howe, Co-Founder and Chairman of Connected Kerb.
The company said it is also planning an expansion into the U.S., where it was recently 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.
“The funding we are providing will help to speed up the provision of EV charging to homes and businesses alike, whilst increasing accessibility,” said Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors.
EV 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.