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Elmtronics to step up EV charging rollout under new investment

By / 8 months ago / UK News / No Comments

Electric vehicle charging point firm Elmtronics is to ramp up its work on network expansion under latest investment.

The partnership should bring fleets cost savings with an end-to-end EV solution, The Algorithm People and Elmtronics say

Elmtronics has been awarded £750,000 from Ingenious Capital Management via its Infrastructure Ventures EIS Service

It’s been awarded £750,000 from Ingenious Capital Management via its Infrastructure Ventures EIS Service. The funding forms part of a £1.5m investment alongside the North East Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia.

Elmtronics said the funding would allow it to accelerate its work targeting charging in underserved UK regions. Its charging points are underpinned by its Hubsta software, which provides smart charging networking for public, private and domestic customers. The funding will be used to further enhance the software but also support the creation of 19 new jobs around the country in the next three months.

The announcement comes a week after the Government announced it will stop sales of  new petrol and diesel cars and vans by 2030.

Dan Martin, chief executive officer, Elmtronics, said: “The latest government announcement is another big step forward on the ‘road to net zero’. However, despite the growing popularity of EVs with consumers and fleet users, a lack of charging points continues to deter many from making the switch. This funding will allow us to step up our activity to help build the all-important infrastructure. We hope to make Elmtronics a key player in the roll-out.”

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.