A new project to raise funding for 280 charging points across Oxfordshire has launched, potentially providing a blueprint for the rest of the UK.

EZ-Charge is raising finance through Ethex to raise £1.2m to install and operate 280 EV charging points in public car parks across Oxfordshire

Oxfordshire-based charge point operator EZ-Charge has partnered with Oxfordshire County Council and the University of Oxford to develop its Park and Charge plans in the county.

It’s raising finance through Ethex, the UK’s positive investing platform, to get the £1.2m needed for the project, which will start infrastructure works on 1 November 2021 and will have all charge points live end of February 2022.

The 10-year bond offer is targeting a 6% return and investments are IFISA eligible, for potential tax-free returns.

The money invested will be used to develop the Oxfordshire Park & Charge project in local authority car parks, but EZ-Charge will also continue to develop new charging tech and sharing its expertise and technology.

Phil Shadbolt, chairman and CEO, EZ-Charge, said: “Finding innovative ways of tackling the number of EV charging points accessible to the general public is going to be a key challenge for enabling the spread of EVs in the UK. We believe that our project, in partnership with Oxfordshire Council and Oxford University, could prove to be an easily transferable infrastructure plan for the rest of the UK.”

Lisa Ashford, CEO of Ethex, said: “In the build-up to COP26 the focus on meeting climate targets is stronger than ever. Part of meeting those targets in the UK is undoubtedly a shift away from vehicles powered by fossil fuels. But for that to be a realistic goal it has to be made easier to charge said vehicles. We’re proud to be supporting EZ-Charge as they set about tackling this challenge.”