Trojan Energy, an on-street electric vehicle (EV) charging specialist, has secured substantial investment to bolster its charging technology stations that sit flush to the pavement to create a “clutter free” streetscape. 

The investment round was led by the Scottish National Investment Bank with a £18m follow-on investment, as well as £8m from growth capital investor BGF. Existing investors include Scottish Enterprise, Equity Gap, Alba Equity, and Social Investment Scotland.

According to the company, the money will fuel the continued deployment of the chargers across the UK.

“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,” said Ian Mackenzie, CEO at Trojan Energy.

“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.”

Founded in 2016, Trojan Energy looked to solve the issue of EV ownership for the roughly nine million UK households without access to a private driveway, while at the same time, maintaining the aesthetic of Britain’s streets and sidewalks. 

“It’s great to be supporting Trojan Energy’s growth journey as they continue to roll out chargers and make the electric vehicle transition accessible for the millions of households without a driveway,” said Keith Barclay, investor at BGF.

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The company’s charging stations can offer speeds of up to 22kW, and also incorporate the ‘DEICER’ system which notifies drivers when a charging bay becomes available. This aligns with the UK government’s target to expand the country’s public charging points from 50,000 to over 300,000 by 2030.

“Trojan Energy has gone from strength to strength, and we are deploying more long-term support to help the company on its continued growth journey. We are pleased to allocate this £18 million follow-on funding after our original investment in 2022,” said Nicola Douglas, executive director at the Scottish National Investment Bank.