JOLT Energy, an e-mobility company known for operating battery-buffered ultra-fast charging stations in urban areas, has announced the successful completion of a significant financing round with InfraRed Capital Partners, an international infrastructure investment company. InfraRed has invested €150 million in JOLT to support its growth. The transaction was completed on May 5th, 2023, with Nomura Greentech acting as JOLT’s exclusive financial advisor.
Over the next few years, the company intends to install thousands of fast-charging stations in European and North American cities. By combining charging stations with battery storage, JOLT revolutionizes the ultra-fast charging of electric vehicles in urban areas. These charging stations, with a power capacity of up to 320 kW, can be connected to the existing low-voltage grid. The battery storage system provides extra energy for the charging process, allowing up to 100 km of driving range to be charged in just 5 minutes. This approach enables the quick establishment of a fast-charging infrastructure without the need for extensive construction or network expansion.
Maurice Neligan, CEO of JOLT, expressed enthusiasm about the partnership with InfraRed, stating that the financing will support the establishment of forward-thinking infrastructure necessary for the transition to e-mobility. JOLT’s ultra-fast charging stations, equipped with powerful battery storage, play a crucial role in accelerating the energy and transport transition in cities. The availability of ultra-fast charging systems is seen as the key to unlocking the potential of electric vehicles for city residents.
Stephane Kofman, Partner and Head of Capital Gain Funds at InfraRed emphasized their commitment to supporting a low-carbon future and investing in rapid electric vehicle charging infrastructure aligns with their approach. InfraRed has experience in investing in renewables and batteries and recognizes the attractive growth potential in the sector. They believe that the expansion of ultra-fast charging stations will facilitate the widespread adoption of electric vehicles and contribute to the decarbonization of transportation.
JOLT Energy, established in 2018, focuses on urban areas where the majority of Europeans lack sufficient charging facilities for electric vehicles. The company aims to provide reliable ultra-fast charging in major urban centres for EV drivers in the coming years. They have already operationalized their first sites in German cities, with plans to add 100 more by the end of the year.
JOLT’s charging stations are primarily located in inner-city areas that are publicly accessible and highly frequented, such as supermarket parking lots. The company offers ultra-fast charging solutions with one of the fastest charging networks on the market, capable of delivering up to 320 kW of power. These charging stations can be connected to almost any low-voltage AC grid without significant construction work, ensuring regional network stability. JOLT’s efforts contribute to expediting the transition to widespread e-mobility, achieving climate goals, and reducing air and noise pollution in cities.
JOLT aims to establish partnerships with both cities and commercial locations, including supermarkets, restaurants, and service stations, to set up charging stations at highly frequented areas for electric vehicle drivers. These partnerships provide opportunities for cities to enhance their public appeal and for site partners to improve customer satisfaction and generate additional revenue, all without requiring substantial effort or investment.