E-mobility company JOLT Energy announced an investment of €150 million from infrastructure capital provider InfraRed Capital Partners, with the funding set to further develop its ultra-fast charging infrastructure in urban areas in North America and Europe.
Founded in 2018, Dublin and Munich-based Charge Point Operator (CPO) JOLT Energy offers ultra-fast charging (up to 200 km in 10 minutes) to European and North American electric vehicle drivers, via accessible charging stations with integrated battery storage. JOLT is focused on building out infrastructure in urban areas that typically don’t have sufficient EV charging facilities.
Maurice Neligan, CEO of JOLT, said:
“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.”
Already contributing to the growth and popularity of e-mobility and the reduction of urban noise and air pollution, JOLT’s charging stations are mainly located in locations with a high volume of electric vehicle use, such as supermarkets and service stations. According to the company, the funding will support JOLT’s aim of expanding its charging network and significantly contributing to tackling the climate crisis.
Stephane Kofman, Partner and Head of Capital Gain Funds at InfraRed, said :
“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.”