The National Wealth Fund (NWF) has joined forces with Aviva Investors to back Connected Kerb’s ambitious plans to expand its UK EV charging network towards 40,000 sockets, up from the 9,000 already built at the end of 2024.
Connected Kerb, the British born and based electric vehicle (EV) smart charging infrastructure specialist, today announced it has secured a £65 million equity investment to support its plans of expanding the UK’s on-street EV charging network.
The fundraise sees NWF commit a £55m ordinary equity investment alongside a further £10m ordinary equity investment from Aviva Investors, the global asset management business of Aviva plc.
This substantial investment into the UK’s public charging infrastructure is critical for delivering the forecast requirement of at least 300,000 public EV chargers by 2030.
Chris Pateman-Jones, CEO of Connected Kerb, said: “This investment combines Connected Kerb’s proven hardware and advanced software infrastructure with the financial resources of NWF and Aviva to deploy public charging at scale, to all corners of the UK.
“This is a game-changing investment that will give individuals and businesses the confidence to make the switch to driving electric, dramatically reducing carbon emissions and air pollution. We are delighted to have such high-profile investors who are deeply aligned with our sustainability and ethical goals.”
John Flint, National Wealth Fund, said: “To get to net zero we need to make it as easy as possible for people to change the way they do things. Providing convenient and reliable on-street charging is key to helping those without driveways make the switch to electric vehicles.
“Our investment in Connected Kerb will support one of the UK’s leading public charge point operators to continue its network expansion and deploy this much-needed EV charging infrastructure at pace and at scale to homes and businesses across the country.”
Angenika Kunne, Head of Infrastructure Equity, Aviva Investors said: ”We are pleased to extend our relationship with Connected Kerb and to back its continued growth plans. This is an ambitious company which we believe is leading the way in helping the UK get ready for the future and supporting the transition towards a low-carbon economy.
“With plans to roll-out an extensive EV charging network, it is well-positioned to create infrastructure which can support the adoption of electric vehicles for the mass market. The unique offer of Connected Kerb’s advanced site selection and user software provides a compelling proposition for both Aviva Investors clients and the end user.”
Future of Roads Minister, Lilian Greenwood said: “Our charge point network is going from strength to strength, and it’s brilliant to see Connected Kerb secure a £65m boost to expand its charging network – a great vote of confidence in the EV transition. The funding follows a record of nearly 20k public charge points added last year.
“With a further £6bn in the pipeline from industry by 2030, the switch to EVs is driving investment across the country, supporting jobs and making the UK a clean energy superpower to deliver our plan for change.”
EV ownership continues to rise fast with over 30% of new vehicles sold last Decemberbeing pure battery EVs. However, there’s a growing gap between EV ownership where drivers can charge their vehicle on their own driveway or garages and where they cannot, as is the case in 55% of dwellings in urban areas.
By boosting public charging infrastructure, Connected Kerb’s public/private partnership model, enabled by NWF and Aviva Investors, is rebalancing this inequality. The company’s chargers are manufactured in the UK, supporting the government’s drive for green job creation.
Connected Kerb was advised in this transaction by Cameron Barney Herbst Hilgenfeldt (CBHH).
