Roam, a leading operator of electric vehicle infrastructure, has raised £65m in one of the first corporate debt deals for EV fast charging in the UK.

The debt facility, provided by a consortium comprising the National Wealth Fund, NatWest and Triodos Bank UK, will accelerate installation of Roam’s UK destination charging sites. This will advance the rollout of its 40,000-strong pipeline, which includes 5,500 charging points already under exclusivity. Roam has already installed 3,000 charging points in the UK.

The debt financing, provided with advisory from EY, builds on Roam’s existing backing from funds managed by Denham Sustainable Infrastructure, part of Denham Capital.

James Randall, chief executive of Roam, said: “This debt facility will allow us to respond to geographical demand patterns for EV charging across the UK, providing reliable, affordable and easily accessible infrastructure to give our customers the reassurance they need to join the electric vehicle revolution.”

Roam installs and manages AC charging infrastructure at workplaces, hotels, residential flats and shopping/leisure centres as part of a ‘charge while you park’ approach; seen as an important part of the UK EV charging network alongside ‘park to charge’ DC rapid charging.

Sarah Lane. managing director at Denham Sustainable Infrastructure, said: “With lower capital requirements and higher returns than DC charging alternatives, Roam’s focus on accessible AC charging infrastructure presents a strong investment case that delivers on both financial and environmental sustainability. This raise represents the latest step in the business’ journey, supporting Denham’s backing to allow Roam to continue to grow alongside the UK’s rapidly evolving electric vehicle industry.”

Chancellor Rachel Reeves said: “We are renewing Britain by investing in our infrastructure and public services, building an economy that works for, and rewards, working people. This deal, with £25m backing from the National Wealth Fund, will strengthen our electric vehicle industry. With thousands more charging points installed in more parts of the country for drivers to use, connectivity between our towns and cities will be improved – a key ingredient for kickstarting economic growth.”