Trojan Energy, an Aberdeen, Scotland, UK-based on-street electric vehicle charging specialist, received £26M in funding.
The round comprised:
- £8M from growth capital investor BGF, and
- £18M follow-on investment by the Scottish National Investment Bank.
The company intends to use the funds for the continued rollout of Trojan Energy chargers across the UK.
Led by CEO Ian Mackenzie, Trojan Energy has developed patented charging technology that offers convenient on-street electric vehicle (EV) charging. The chargers sit flat and flush with the pavement offering charging speeds of up to 22kW. The business has also developed the ‘DEICER’ system to alert drivers when a charger and charging bay becomes available to ensure a seamless user experience.
The chargers are manufactured at Trojan Energy’s headquarters in Aberdeen with a headcount now standing at 68. To date, the company has 600 charge points in operation across 4 councils (Camden, Brent, Barnet, and Oxfordshire).
Trojan recently partnered with Barnet Council to install around 1,300 on-street charge points, and there is a pipeline of new opportunities across the UK, including in England as part of the Local Electric Vehicle Infrastructure (LEVI) fund.
Commenting on the news, Ian Mackenzie said: “We welcome this new investment from BGF and follow on funding from the Bank. This funding will allow Trojan Energy to continue its journey and deploy several thousand more charging points across the UK, serving tens of thousands of customers. Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution.”
FinSMEs
17/01/2024