Urban Electric Networks Ltd (Urban Electric), supported and advised by Broadstone Capital Advisors Ltd, today announces that it has commenced a process to source new investment to assist the financing of its growing UK pipeline of electric vehicle (EV) charging infrastructure projects.
Urban Electric builds low impact charging infrastructure necessary to accelerate EV adoption in towns and cities across the globe. Backed by Innovate UK, the UK’s Innovation Agency, the company solves the problem of at-home charging for people without drives or garages with near-home ‘pop-up’ kerbside charging hubs.
The UEone is the world’s first fully retractable chargepoint, designed for the 10 million UK drivers that park on-street - and more than 100 million across Europe. Deployed as fast charging hubs in residential neighbourhoods and public parking bays, the smart charge points minimise the impact on both the urban streetscape and the power grid.
For local authorities tasked by Transport Secretary, Grant Schapps, with deploying on-street charging infrastructure in readiness for the 2030 prohibition on new petrol and diesel cars, Urban Electric’s fully funded own and operate business model offers a scalable and resource light alternative to reliance on government grants.
“We all know electric cars are the future, but in less than 9 years you won’t be able to buy a new one in the UK unless it IS electric. We need more than 500,000 new public charge points for the 11m EVs that are forecast to be on the road by then, a large proportion of which will be low impact kerbside chargers. This is a great opportunity to be part of our exciting growth story as we scale rapidly to provide this vital infrastructure” said co founder and CEO Olivier Freeling-Wilkinson.
Contact Alastair Lowe, Managing Director alastairlowe@bca-advisory.com
About Urban Electric
Urban Electric Networks Ltd is a British electric vehicle (EV) chargepoint developer and operator with a mission to build the world’s largest urban EV charging network. Voted Top 6 European Cleantech Startup in 2018 by Climate-KIC, Europe’s climate innovation agency. www.urbanelectric.london. Further information keithj@urbanelectric.london
About Broadstone Capital Advisors
Broadstone Capital Advisors offer Equity Capital Raising, Debt and M&A in the Transport, Energy, Digital and Healthcare sectors. The senior team has significant experience working at large global financial institutions and have worked on over 150 transactions with a combined value of $100 billion. www.broadstonecapitaladvisors.com
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