UK’s EVC secures £165m commitment from Denham Sustainable Infrastructure to roll out c.100,000 electric vehicle charge points nationally| Sustainable Infrastructure
London, UK (February 23, 2023) – UK-based electric vehicle charging company, EVC, has secured up to £165 million of capital from Funds managed by Denham Sustainable Infrastructure (“DSI”), an arm of global energy transition investment firm, Denham Capital. The investment will be used to accelerate EVC’s ambition to deliver up to 100,000 EV charge points across the UK by 2027 and secure portfolio opportunities with larger landlords.
EVC’s core focus is on providing convenient, practical and reliable ‘destination’ charging options for its growing customer base. EVC funds and installs EV charge points, under long-term contractual lease agreements, at ‘destinations’. These include hospitality, leisure and retail venues, workplaces and multi-dwelling residential units. Ensuring convenient and practical EV charging at their destination means customers, staff and residents no longer need to take time out of their journey to charge on the way.
Through boosting destination EV charging infrastructure, EVC aims to eliminate the so-called ‘range anxiety’ experienced by EV drivers concerned about finding reliable charge points. Projects range from individual chargers through to larger EV charging hubs and utilise charging points with a capacity between 22kW and 300kW.
EVC’s fully funded solutions aim to meet the demands of the EV industry, providing innovative and scalable charging infrastructure alongside charging management software. This includes managing any planning requirements, undertaking the installation and maintenance of each charger. For landlords who want to invest their own capital, EVC offers a Managed Service, whereby EVC undertakes the installation and operates the EV charger on the landlord’s behalf.
EVC was founded in early 2020 and has attracted a number of key customers under long-term lease agreements as it has developed and refined its business model. To date, the Company has been funded by Oasthouse Ventures, James Randall, Lucky Gohler and through capital raised in 2022 from high-net-worth individuals. The partnership with Denham Sustainable Infrastructure will propel EVC as it moves to the next phase of its growth.
Nick Ballamy, CEO of EVC said: “Denham Sustainable Infrastructure’s commitment – one of the largest seen in the UK EV charging infrastructure sector – will turbocharge our ability to provide businesses and customers across the nation with the confidence to make the switch and join the electric vehicle revolution. We’re seeing pent-up demand across our markets and this investment will enable us to accelerate delivery to meet those needs. We will deploy our proprietary platform at scale, enabling EV drivers to have easy access to our reliable network. For our clients, this is about retaining business and driving additional footfall to their sites. By providing drivers with the confidence to make the switch to electric, we can help the UK meet its ambitious net zero goals.”
Scott Mackin, Partner and Co-head of Denham Sustainable Infrastructure said: “This investment in EVC is part of our Sustainable Infrastructure strategy to invest globally in businesses that are key to the energy transition. We have a focus on working with strong management teams with an excellent track-record and a platform from which to accelerate growth. Denham Sustainable Infrastructure is a leading mid-market investor and this latest partnership with EVC will help it become a prominent player in the EV charging infrastructure space.”
Sarah Lane, Director at Denham Sustainable Infrastructure said: “Our partnership with EVC will help deliver convenient and easy-to-use EV charging infrastructure across the UK. EVC’s leadership combines expertise in energy and grid, large scale infrastructure deployment, customer-focused technology systems as well as property and carpark management. This unique combination offers a holistic and tailored solution for landlords and EV drivers.”
FTI Consulting – Elizabeth Adams +44 7974 982331 or [email protected]
EVC was advised by Cameron Barney LLP and Shoosmiths LLP. Denham Capital was advised by Fladgate LLP.
EVC installs fully funded EV charging points to the destination, residential, commercial and workplace sectors. EVC is striving to fill the gap left by the lack of EV charging infrastructure across the UK, giving individuals and businesses the confidence to make the switch to electric and enabling the government to reach their Net Zero goals. EVC was founded in early 2020 by CEO Nick Ballamy and Oasthouse Ventures with the aim of ‘Making the EV Switch simple’.
Through the provision of charging facilities for customers, staff and residents, EVC gives businesses and landlords across the UK the opportunity to join the EV revolution. EVC aims to bring convenience to EV drivers, providing destinations with scalable EV charging infrastructure supplied by renewable energy, to meet today’s needs while futureproofing to meet demand in the years ahead.
For more information, visit www.evc.co.uk
About Denham Capital
Founded in 2004, Denham Capital is a global energy transition investment firm having raised more than $10 billion of capital across multiple sectors. Denham’s Sustainable Infrastructure business specializes in mid-market infrastructure equity and debt investments that are central to enabling a global energy transition. Having first invested in renewable power in 2007, Denham’s diverse investment team and portfolio companies have acquired, developed, built, and exited businesses across the globe for over 15 years. This “business building” focus is core to Denham’s belief that value is created for investors by acquiring and building sustainable infrastructure to help solve the $150 trillion 2050 net-zero challenge. Denham Capital sponsors entrepreneurs, delivering the financial resources and industry expertise needed to create and grow successful infrastructure and resource businesses. We seek to establish long term partnerships with entrepreneurs and companies who share our vision for growth and value creation. Our firm is built on a foundation of experience, fairness, economic rationale, flexibility and trust, and we bring these values into every opportunity we pursue. We believe our tactical familiarity within our industry sectors along with a disciplined approach centered around fairness and shared success make us an ideal partner.
For more information, visit www.denhamcapital.com/