InstaVolt has secured a “significant” capital raise from existing investor EQT Infrastructure to continue its ultra-rapid charging rollout.

InstaVolt says its focus will remain on offering first-class amenities and delivering larger hubs

The additional funding follows EQT’s acquisition of the business in February 2022 and supports InstaVolt’s plans to be the largest charge point operator (CPO) across all its geographic markets.

Latest Zapmap figures show Hampshire-based InstaVolt has the most rapid/ultra-rapid charge points in the UK and the network – which solely installs ultra-rapid chargers over 100kW+ – now has more than 2,000 chargers in operation or construction. This includes planning approval for a super hub along the A34 in Winchester, which will see 44 ultra-rapid chargers installed.

The business also operates in other European markets including Portugal, Spain, the Republic of Ireland, and also Iceland – where InstaVolt launched an ultra-rapid EV charging hub that’s said to be the largest in June 2023.

InstaVolt has plans in place to install 11,000 chargers in the UK and Ireland, 5,000 in Spain and Portugal, and over 300 in Iceland – and says its focus will remain on working with leading, premium brands across Europe to offer first-class amenities and deliver larger hubs.

Adrian Keen, CEO, said: “This additional funding is a sign of confidence in InstaVolt and the EV charging industry as a whole, while showing the ambition to invest in future infrastructure, not just across the UK, but on a global scale.

“In the last 18 months with EQT, we have been able to explore considerable new opportunities including the introduction of Octopus and Allstar cards to ease the transition to EV for our customers and fleets, our international expansion as well as developing our hub strategy in the UK and Iceland.”

Keen also spotlighted how Britain’s new ZEV mandate will propel the demand for higher numbers of charge points. The mandate will require automakers to ensure 80% of all their new cars and 70% of new vans sold are electric by 2030, rising to 100% by 2035.

“With this latest financial news, InstaVolt are in the driver’s seat to deploy the number of chargers needed and invest heavily in installing a future-proofed network internationally.”