Norwegian electric vehicle (EV) charging infrastructure start-up Wattif EV has set out its plans to play a leading role in the UK network for destination chargers by 2030, having recently installed its first charging points in the country and secured a €50m investment.
Wattif EV seeks to accelerate the electrification of the UK parking network by providing hassle-free access to charging infrastructure. Simultaneously, its model provides the car parks’ landlord or owner the choice of a number of finance models whereby they can benefit from a share of net revenue, whilst rolling out a wider geographical range of ‘fast’ charge points which are cheaper to install and use than the traditional and more expensive, rapid charging options.
In late-2022, Wattif EV UK switched on its first UK charge points in Cambridge and is about to switch on more just outside Leeds, with Scotland next.
Wattif EV says it’s in discussions ‘to expand exponentially’ with contract negotiations underway that could deliver ‘thousands’ of Wattif EV-managed stations in the next 18 months.
AMPECO, a technology provider to Wattif EV, has raised a$16m in venture capital investment, having closed a Series A funding round of $13m in late-January 2023. The Series A round was led by BMW i Ventures, a SiliconValley-based venture capital firm with a background in investments in transportation, manufacturing, supply chain, and sustainability. AMPECO’s investment provides long-term and sustainable service provision for Wattif EV’s charging network as it looks to strengthen its position in the UK market.
Robert Svendsen, Wattif EV CEO, said: “Significant European investments into our own business shows that UK expansion is built on solid foundations and becomes an integral part of our plans to establish a leading European wide network of EV destination chargers.
“To hit the UK’s 2030 EV targets there needs to be strong support from business, local authorities and Government to establish a coordinated strategy deliveringEV cars, EV infrastructure and EV battery supply. Actions speak louder than words and I believe business must lead this charge given all the pressures on the UK Government right now: our strong end to 2022 and start to 2023 shows that Wattif EV is ideally placed to be a critical path to that ambition. Our Norwegian-based expertise and focus on what’s best for the owner of EVs and EV chargers to fit charging into their daily lives are key. Charging en-route at service stations is not viable long-term -charging without thinking, planning or worrying, at home and destination is key to driving growth of EV sales.”
