Energy Park, which specialises in electric vehicle (EV) charging solutions for apartment buildings, has secured a £35m investment from Zouk Capital.
The company will use the funding to finance its expansion and the UK’s transition to EVs, particularly in residential areas with communal parking.
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Energy Park said it aims to drive the UK’s EV adoption by enhancing the availability of convenient charging points at apartment buildings.
The investment from Zouk Capital, a manager of the Charging Infrastructure Investment Fund (CIIF), will help address the current shortfall in EV infrastructure within communal car parks of residential buildings.
With around 100,000 apartment buildings in the UK, Energy Park’s initiative could make EV ownership viable for a broader segment of the population.
Residents of apartment buildings often face limited access to charge points and are subject to high public charging rates.
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By GlobalDataEnergy Park aims to disrupt this status quo by offering affordable and reliable charging solutions, accompanied by dedicated customer support.
This approach not only benefits residents but also supports residential landlords, including housing associations and property management companies, by eliminating financial and operational barriers to installing EV infrastructure.
Moreover, Energy Park is not limiting its services to residential buildings alone.
The company plans to extend its offerings to residential destination operators, such as holiday parks and hotels, providing tailored EV charging solutions.
This expansion is in line with the UK’s efforts to achieve net zero emissions by 2050.
Overseeing the £420m CIIF, Zouk Capital was established by the UK Government in 2019.
Last month, Auto Trader reported that the UK’s Zero Emission Vehicle mandate has positively impacted the market, with discounts now available on three-quarters of new EV models.
