Jolt Energy, a Dublin and Munich-based e-mobility company that offers fast charging stations in downtown and urban areas, has secured $US150 million in funding to support the deployment of its battery-buffered ultra-fast EV chargers.
Combining ultra-fast charging stations with battery storage, Jolt charging stations will boast up to 320kW of power and can be connected to the existing low-voltage grid without any major construction work.
The combination of charger and battery means that the battery is able to provide additional energy for the entire charging process, which enables up to 100 kilometres of driving range to be charged in only 5 minutes.
Jolt also notes that this combination of charger and battery helps secure network stability on a regional level.
Focusing on downtown urban areas where three out of four Europeans live without sufficient charging facilities, Jolt Energy is looking to roll out “thousands” of ultra-fast charging stations across Europe and North America.
The company’s first ultra fast EV charger sites are already up and running in Germany with 100 more set to be installed by the year’s end.
Jolt’s continued expansion and deployment of EV chargers will now be bolstered by a $US150 million investment round with InfraRed Capital Partners, a leading international infrastructure investment company.
“Our ultra-fast charging stations equipped with powerful battery storage are the missing link in accelerating the energy and transport transition in cities,” said Maurice Neligan, CEO of Jolt. “Ultra-fast charging systems are the key to unlocking the potential of EVs for city residents.”
The $US150 million investment round comes from InfraRed Capital Partners, an international infrastructure investment company.“Investing in rapid electric vehicle charging infrastructure aligns with our approach to supporting a low-carbon future,” said Stephane Kofman, partner and head of capital gain funds at InfraRed.
“InfraRed has an established pedigree in investing in renewables and batteries. With our investment in Jolt, we are focusing on a sector with attractive growth potential.”
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.