InstaVolt has received £110m in senior debt financing to continue its significant expansion of rapid EV charging infrastructure throughout the UK.

A group of international lenders have provided the facility to deliver InstaVolt’s expansion plans

The latest funding round comes from Santander, Lloyds Bank, Investec, Natixis and NIBC, and will further accelerate expansion of the UK’s EV charging infrastructure and enable the transition to zero-emission vehicles.

It follows EQT Infrastructure’s acquisition of InstaVolt in March this year from Zouk Capital, committing to the company’s vision to build a nationwide network of 10,000 rapid EV chargers by 2032.

Commenting on the new funding, Adrian Keen, InstaVolt’s chief executive officer, said: “Having such prestigious banks come together to provide this facility is a sure sign of confidence in InstaVolt and the opportunity provided by the charging infrastructure industry more generally. This funding will form an important part of our strategy to expand our network within the UK and support our country’s continued green transition: a journey which requires organisations and bodies to come together wherever possible.”

Headquartered in Basingstoke, UK, InstaVolt was founded in 2016 and has a nationwide network of some 700 charge points. These are mainly located at retail, food, beverage and forecourt sites; the firm’s current partners include McDonald’s, Costa Coffee and Booths, supporting its work to build a reliable, easy-to-use and easily accessible service for its customers. It’s also been rated as the most popular open network by EV drivers consecutively for the last four years in Zap-map research.

Adrian Keen continued: “InstaVolt has been at the forefront of the growth in public charging infrastructure, providing industry-leading levels of reliability at fantastic locations across the country. We are witnessing a rapid transition to electric vehicles, and it is of fundamental importance that the infrastructure is in place to support that.”