Irish-founded Jolt gets €150m for ultra-fast EV chargers
Jolt Energy, an Irish-co-founded company that develops ultra-fast electric vehicle charging stations, has secured investment of €150 million.
Headed up by founder Maurice Neligan, and with operations in Dublin, Munich and London, the e-mobility firm plans to use the investment to install thousands of fast-charging stations across European and North American cities over the next few years.
Jolt states that its charging stations offer up to 320 kW power and can be connected to the existing low-voltage grid; the battery storage provides additional energy for the entire charging process, enabling up to 100km of driving range to be charged in just five minutes.
Cities and site partners can quickly establish a fast-charging infrastructure without extensive construction or network expansion, it claims.
The investment of €150 million was secured from InfraRed Capital Partners, a leading international infrastructure investment company.
“With InfraRed, Jolt has found a financing partner who supports the establishment of a forward-looking infrastructure and paves the way for the crucial change in e-mobility,” said chief executive Maurice Neligan.
“Our ultra-fast charging stations equipped with powerful battery storage are the missing link in accelerating the energy and transport transition in cities. Ultra-fast charging systems are the key to unlocking the potential of EVs for city residents.”
Founded in 2018, Jolt aims to provide reliable, ultra-fast charging in major urban centres for EV drivers in the coming years. The first sites in German cities are already operational, and 100 more are set to follow by the end of the year.
Jolt’s charging stations are mainly installed in inner-city, publicly accessible, and highly frequented areas such as supermarket car parks.
The company also aims to partner with both cities and commercial locations, such as supermarkets, restaurants and service stations, to establish charging stations at highly frequented locations for electric vehicle drivers.