InfraRed Invests €150 Million in JOLT Energy for Ultra-Fast Charging Network
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- Infrastructure capital provider InfraRed Capital Partners invests in JOLT
- Thousands of ultra-fast charging stations, with charging power up to 320 kW, are planned in European and North American cities
- Combination of charging stations and battery storage allows for the creation of an ultra-fast charging network in urban areas – without extensive grid expansion
- Municipal and commercial site operators will get JOLT´s premium chargers without having to invest in or operate chargers themselves
E-mobility company JOLT Energy, a pioneer in the operation of battery-buffered ultra-fast charging stations in urban areas, is expanding: Over the next few years, thousands of fast-charging stations will be installed in European and North American cities, the Dublin & Munich-based company announced on Tuesday, May 9th. With the expansion of an ultra-fast charging infrastructure, JOLT aims to accelerate the transition to electric mobility and make a significant contribution to addressing the climate crisis.
JOLT revolutionizes ultra-fast charging of electric vehicles in urban areas by combining charging stations and battery storage. JOLT charging stations with up to 320 kW power can be connected to the existing low-voltage grid; the battery storage provides additional energy for the entire charging process, enabling up to 100 km of driving range to be charged in just 5 minutes. Cities and site partners can quickly establish a fast-charging infrastructure without extensive construction or network expansion.
The establishment of a comprehensive fast-charging infrastructure is made possible by the successful completion of a large financing round with InfraRed Capital Partners (InfraRed), a leading international infrastructure investment company. InfraRed have invested in JOLT via a €150 million allocation to support its growth. Nomura Greentech acted as exclusive financial advisor to JOLT. The transaction was completed on May 5th 2023.
Maurice Neligan, CEO of JOLT: “With InfraRed, JOLT has found a financing partner who supports the establishment of a forward-looking infrastructure and paves the way for the crucial change in e-mobility. Our ultra-fast charging stations equipped with powerful battery storage are the missing link in accelerating the energy and transport transition in cities. Ultra-fast charging systems are the key to unlocking the potential of EVs for city residents.”
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Stephane Kofman, Partner and Head of Capital Gain Funds at InfraRed: “Investing in rapid electric vehicle charging infrastructure aligns with our approach to supporting a low-carbon future. InfraRed has an established pedigree in investing in renewables and batteries. With our investment in JOLT, we are focusing on a sector with attractive growth potential. The expansion of ultra-fast charging stations will facilitate the widespread adoption of electric vehicles, and we are proud to partner with JOLT to play our part in the decarbonisation of transportation.”
JOLT Energy, a leading Charge Point Operator (CPO), founded in 2018, is focusing on urban areas, where three out of four Europeans live without sufficient charging facilities for electric vehicles. The company aims to provide reliable, ultra-fast charging in major urban centers for EV drivers in the coming years. The first sites in German cities are already operational, and 100 more are set to follow by the end of the year.
JOLT’s charging stations are mainly installed in inner-city, publicly accessible, and highly frequented areas such as supermarket parking lots. The company offers ultra-fast charging solutions with up to 320 kW power, which is one of the fastest charging networks on the market. Thanks to integrated battery storage, JOLT’s charging stations can be connected to almost any low-voltage AC-grid without major construction work, securing network stability on a regional level. JOLT contributes to accelerating the transition to widespread e-mobility, achieving climate goals, and reducing air and noise pollution in cities.
JOLT aims to partner with both cities and commercial locations, such as supermarkets, restaurants and service stations, to establish charging stations at highly frequented locations for electric vehicle drivers. These partnerships provide an opportunity for cities to enhance their public appeal and for site partners to improve customer satisfaction and generate additional revenue, all without requiring significant effort or investment.