EV fast charging player JOLT raises €150m

Irish-founded JOLT Energy plans to deploy thousands of ultra-fast charging stations across Europe and North America.

JOLT Energy has raised €150m in an investment led by infrastructure capital provider InfraRed Capital Partners.

JOLT Energy was founded in 2018 by Maurice Neligan and is focusing on urban areas, where three out of four Europeans live without sufficient charging facilities for electric vehicles.

“Our ultra-fast charging stations equipped with powerful battery storage are the missing link in accelerating the energy and transport transition in cities”

The company aims to provide reliable, ultra-fast charging in major urban centers for EV drivers in the coming years. The first sites in German cities are already operational, and 100 more are set to follow by the end of the year.

Fast charging vision

JOLT charging stations with up to 320 kW power can be connected to the existing low-voltage grid; the battery storage provides additional energy for the entire charging process, enabling up to 100km of driving range to be charged in just five minutes. Cities and site partners can quickly establish a fast-charging infrastructure without extensive construction or network expansion.

The establishment of a comprehensive fast-charging infrastructure is made possible by the successful completion of a large financing round with InfraRed Capital Partners (InfraRed), a leading international infrastructure investment company.

InfraRed have invested in JOLT via a €150m allocation to support its growth. Nomura Greentech acted as exclusive financial advisor to JOLT.

“With InfraRed, JOLT has found a financing partner who supports the establishment of a forward-looking infrastructure and paves the way for the crucial change in e-mobility,” explained Maurice Neligan, CEO of JOLT.

“Our ultra-fast charging stations equipped with powerful battery storage are the missing link in accelerating the energy and transport transition in cities. Ultra-fast charging systems are the key to unlocking the potential of EVs for city residents.”

JOLT’s charging stations are mainly installed in inner-city, publicly accessible, and highly frequented areas such as supermarket parking lots. The company offers ultra-fast charging solutions with up to 320 kW power, which is one of the fastest charging networks on the market. Thanks to integrated battery storage, JOLT’s charging stations can be connected to almost any low-voltage AC-grid without major construction work, securing network stability on a regional level. JOLT contributes to accelerating the transition to widespread e-mobility, achieving climate goals, and reducing air and noise pollution in cities.

The business aims to partner with both cities and commercial locations, such as supermarkets, restaurants and service stations, to establish charging stations at highly frequented locations for electric vehicle drivers. These partnerships provide an opportunity for cities to enhance their public appeal and for site partners to improve customer satisfaction and generate additional revenue, all without requiring significant effort or investment.

“Investing in rapid electric vehicle charging infrastructure aligns with our approach to supporting a low-carbon future,” 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. The expansion of ultra-fast charging stations will facilitate the widespread adoption of electric vehicles, and we are proud to partner with JOLT to play our part in the decarbonisation of transportation.”

Main image: JOLT founder Maurice Neligan

John Kennedy
Award-winning ThinkBusiness.ie editor John Kennedy is one of Ireland's most experienced business and technology journalists.