Jolt London Expansion
Jolt, an Australian charging company backed by the influential U.S. fund manager BlackRock, is making significant strides in its plan to introduce on-street electric vehicle (EV) chargers in London. The overarching objective is to deploy an impressive 5,000 chargers across the United Kingdom within the next three to five years. The initial phase of this expansion is unfolding in the London borough of Barnet, and discussions are actively underway for potential extensions into other boroughs. Notably, Barnet has secured a substantial £2.1 million ($2.6 million) government grant dedicated to advancing EV charging infrastructure.
Innovative Charging Solutions
Diverging from the norm of on-street chargers providing a gradual overnight charge, Jolt’s chargers operate at a noteworthy 25 kilowatts (kW), making them particularly adept for short stops in densely populated urban locales. Doug McNamee, the CEO, underscores the ongoing dialogues with various boroughs, signaling a proactive approach to explore and facilitate further expansions.
A standout feature of Jolt’s chargers is their incorporation of advertising, a dynamic that financially supports around 7-kilowatt hours of free charging for end-users. This equates to roughly 30 miles (48.3 km) of added EV range, presenting a compelling incentive for consumers.
Having successfully secured over A$100 million ($63.7 million) in funding from BlackRock’s climate infrastructure fund, Jolt operates robustly in Australia and New Zealand. The company recently solidified a strategic partnership with Telus, a prominent Canadian telecommunications entity, aiming to deploy an extensive network of 5,000 chargers across Canada. While Jolt currently oversees a fleet of approximately 100 operational chargers, its global pipeline envisions the deployment of roughly 7,500 chargers, as per McNamee’s disclosures.
As part of its growth strategy, Jolt has established dedicated offices in the United States and strategically navigates the complex landscape of entering the American market. The regulatory intricacies that vary across states present challenges, but McNamee remains optimistic, citing BlackRock’s robust partnership and hinting at potential expansions in the near future.
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