Australian charging company Jolt, supported by BlackRock, is making significant strides in electric vehicle (EV) charging by introducing high-power on-street chargers in London. As part of their ambitious plan, Jolt aims to deploy 5,000 EV chargers across the United Kingdom over the next three to five years.
The initial rollout is taking place in the London borough of Barnet, where Jolt’s CEO, Doug McNamee, revealed ongoing discussions to expand into other boroughs. Barnet has secured a £2.1 million ($2.6 million) government grant dedicated to EV charging infrastructure, underlining the growing support for sustainable transportation initiatives.
Jolt’s innovative solution boasts a powerful 25-kilowatt (kW) capacity, making it ideal for short stops in densely populated urban areas. McNamee emphasized that these high-powered chargers are distinct from traditional options that offer a lower kilowatt output, often around 7 kW, primarily designed for overnight charging. An innovative aspect of Jolt’s chargers is incorporating advertising, which funds consumers with approximately 7 kilowatt-hours of free charging. It translates to around 30 miles (48.3 km) of EV range, creating an enticing proposition for users.
With substantial backing from BlackRock’s climate infrastructure fund, Jolt has garnered over A$100 million ($63.7 million) in funding. The company, which already operates in Australia and New Zealand, recently announced a strategic partnership with Canadian telecoms company Telus to install 5,000 chargers across Canada. Despite currently having around 100 chargers in operation, Jolt envisions a significant expansion, with a global pipeline of approximately 7,500 chargers in the works, according to McNamee.
Eyeing the vast potential of the U.S. market, Jolt has established offices in the country and is navigating the complex landscape of regulations that vary by state. McNamee hinted at further expansions, stating, “We’ve got a great partner in BlackRock, so we might be springing up somewhere else before you know it.” Jolt’s strategic approach and BlackRock’s support position the company as a key player in the global EV charging infrastructure arena.
