The investment has been made to support Zest’s increasing commercial momentum and follows an initial investment of £30m announced in October 2021. Working through Zest and a handful of other portfolio companies, the CIIF’s goal is to accelerate the deployment of EV charging infrastructure throughout the UK.
The CIIF is a £420m public-private fund backed by HM Treasury (through UK Infrastructure Bank) and by private investors. The fund is managed by sustainable infrastructure specialist Zouk Capital and was designed to scale-up open-access, public EV charging networks in the UK increasing its accessibility and convenience.
Zest was originally set up to make fast charging available where people regularly park for more than 30 minutes, such as for shopping, leisure, or work. However, over the past 12 months, the company has increased the scope of its operations to include on-street lamp post charging and rapid charging hubs, to create a comprehensive portfolio.
Examples of recent Zest deployments are the top-10 UK retail destinations Metrocentre and Merry Hill, each with more than 50 charge points deployed. Hackney Council recently announced that it has partnered with Zest to roll out 2,500 charge points across its seven square miles, the UK’s most concentrated public sector EV infrastructure deployment.
“We’re growing our network by funding and operating large-scale charging infrastructure for public and private landowners,” said Zest’s Robin Heap. “Our open access charge points help tackle climate change, boost local economic growth, and help make EV a realistic option for everyone in society.”
