Trojan Energy has secured a late seed round investment of £2.2 million to roll out its flat-and-flush on-street EV charging hubs and develop further commercial applications of its technology.
The round was led by Scottish angel investors Equity Gap, and includes investment from Scottish Enterprise, SIS Ventures and Aberdeen-based angel investors Alba Equity.
With the UK target market alone worth well over £1 billion, the company will use the funding to improve its technology and applications by volume level manufacturing, rolling out charge points in more areas and growing their team.
Ian Mackenzie, CEO of Trojan Energy, said: “We specialise in EV charging without pavement clutter, and this investment allows us to commercialise further the technology and expand our business, creating more charging points on each street and making the technology accessible to more customers.”
Trojan Energy recently launched its technology on the streets of the London Borough of Brent and plans to install up to 150 charging points to be trialled by customers in Brent and in nearby Camden by late 2021.