InstaVolt has received a substantial capital injection from its parent company, EQT Infrastructure, which will help it fund an ambitious roll-out of more than 11,000 new chargers in the UK and Ireland.
The new funding follows EQT Infrastructure’s acquisition of InstaVolt in February 2022 and aims to sustain the expansion of InstaVolt’s charging network across the UK and other European countries, including Iceland, Portugal, Spain, and Ireland.
In 2023, InstaVolt continued to expand its presence in the UK, reaching over 2,000 chargers either operational or under construction. The company is known for exclusively installing ultra-rapid chargers of 100kW or more, catering to customer demands for faster charging solutions.
InstaVolt’s strategy includes collaborating with well-known brands across Europe to provide amenities and develop larger charging hubs. Notable achievements include launching Iceland’s largest ultra-rapid EV charging hub in June 2023 and securing planning permission for a significant hub in Winchester, UK, which will feature 44 ultra-rapid chargers.
The company has outlined ambitious plans for charger installation: 11,000 chargers in the UK and Ireland, 5,000 across Spain and Portugal, and over 300 in Iceland. In total, InstaVolt is aiming for a network exceeding 16,000 chargers. To support this expansion, InstaVolt has recruited staff in all operational regions.
That all costs money, however, and the additional funding from EQT Infrastructure should give the company the financial resources to achieve it. Pair that with InstaVolt’s existing partnerships, with the likes of McDonald’s, and the future looks bright for one of the UK’s largest EV charging networks.
Adrian Keen, CEO of InstaVolt, commented on the funding, “This additional funding is a sign of confidence in InstaVolt and the EV charging industry as a whole, while showing the ambition to invest in future infrastructure, not just across the UK, but on a global scale.
“In the last 18 months with EQT, we have been able to explore considerable new opportunities including the introduction of Octopus and AllStar cards to ease the transition to EV for our customers and fleets. our international expansion as well as developing our hub strategy in the UK and Iceland.”
