EV Network and BP Pulse sign an agreement to develop Ultra-fast EV charging stations across the UK.
The agreement will see a renewably powered, publicly accessible EV charging infrastructure being developed all over the country. The project will develop multiple, rapid and ultra-fast charging stations that will be strategically developed in the busiest locations, many of which have already been secured.
bp pulse was founded in 2008 and provides electric vehicle charging stations and has the largest network in UK. The EV network was founded in early 2017 with an aim to roll out as many charging points as possible with ultra-fast EV chargers across the UK. In 2020, the EV network received around £50 in investments from a UK based company to invest in the energy efficiency sector.
The forecourt is the first location where construction will begin immediately with additional other sites identified in the agreement and expected to become operational by the end of 2021. The EV charging stations will have between six to twelve state of the art charging hubs , 24 ultra-fast chargers with 300 KV and onsite solar PV with battery storage supplied by Leclanche SA. It will also include convenient stores and other facilities for motorists to use while waiting for their vehicles to be charged.
In August 2020, Electric V Network (EVN) secured funding worth a £50 million investment commitment from Sustainable Development Capital LLP (SDCL). Funding will be from the Energy Efficiency Income Trust (SEIT), a listed energy efficiency fund managed by SDCL. The firm will be investing exclusively in the energy efficiency sector for the first time. In order to provide an additional £150 million, Sustainable Development Capital LLP will have the right of first refusal in the next 24-36 months to further develop a further 400 EV charging sites.
The founding Chief executive of EVN Reza Shaybani said that the agreement with BP Pulse was ground-breaking in developing and becoming one of the largest charge points operators in the market. He also mentioned that he believes BP Pulse is an ideal partner for EVN to bring pivotal EV infrastructure throughout the UK.
The CEO of BP Pulse Matteo de Renzi on the other hand emphasized how vital the partnership was in demonstrating his firm’s commitment to making renewably charged EV charging infrastructure accessible in the UK. He also pointed out that the EV hubs will be developed in a practical and user-friendly manner. He went on to say although the agreement with EVN compliments their already existing expansion plan to make ultra-fast charging accessible on their retail sites. And that the addition of EVN new format was an exciting addition to their portfolio which will make charging solutions publicly accessible.
Jonathan Maxwell, the CEO of Sustainable Development Capital LLP, the firm funding the project, pointed out that the electric vehicle sales growth calls for an immediate scaling of EV infrastructure and making it widely available. Thus, partnership with EVN is a notable pledge towards developing EV charging infrastructure in the UK in addition to supporting a sustainable and low carbon transport market which will help reduce carbon emissions