Trojan Obtains £26 Million Investment for Innovative 'Clutter-Free' Vehicle Charging Technology
Aberdeen-based Trojan Energy, a pioneer in electric vehicle charging technology, has recently concluded its largest funding round, amassing £26 million. This financial boost was primarily contributed by investment groups BGF and the Scottish National Investment Bank. The funding is aimed at enhancing infrastructure to facilitate the transition to electric vehicles, particularly addressing the challenge faced by approximately nine million UK households without private driveways for installing EV chargers.
Founded in 2016 by ex-oil and gas executives, Trojan Energy has innovated a unique "flat and flush" charging system. This system is designed to occupy minimal space on pedestrian pavements and becomes virtually invisible when not in use. Drivers utilize a portable charging "lance" which connects to a pavement socket for charging their vehicles.
Prior to this funding round, Trojan Energy had raised £18 million through investments and grants from entities including angel investment groups, Scottish Enterprise, and Innovate UK. The Scottish National Investment Bank has contributed £18 million in follow-on funding, with the remaining £8 million provided by BGF, established in 2011 to support small and medium-sized businesses.
Trojan Energy's manufacturing base is in Aberdeen, employing 68 individuals. The company has installed 600 charging points across Oxfordshire and London boroughs such as Camden, Brent, and Barnet. A company spokesperson highlighted that Trojan's charging solution is under review by over 70 councils across the UK, including several in Scotland, where it is seen as an ideal solution for streets where preserving aesthetics is paramount.
The company's growth in England is bolstered by the Local Electric Vehicle Infrastructure (LEVI) fund, supporting the UK government's goal to expand the public charge point network from 50,000 to over 300,000 by 2030.
Ian Mackenzie, Trojan's CEO, expressed gratitude for the investment, which will enable the deployment of thousands more charging points across the UK. He emphasized Trojan's ambition to become a leading provider of on-street EV charging in the UK.
Keith Barclay of BGF highlighted the unique clutter-free aspect of Trojan's technology as a significant market differentiator. Nicola Douglas from the Scottish National Investment Bank echoed this sentiment, noting the investment's alignment with net zero goals and its role in making EV charging more accessible
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