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£1 million+ Success for EZ-Charge on Ethex
EZ-Charge’s vision for a greener Oxfordshire boosted by £1 million+ investment via Ethex
Oxfordshire Electric Vehicle charge point manufacturer, EZ-Charge have closed their recent investment offer on the Ethex platform, having raised over £1million in funding from 269 positive investors.
The case for more public electric vehicle chargers has never been stronger. EV ownership in the UK has increased from 3.2% of vehicles in 2019 to 10.7% in 2021. And with the electric revolution set to gather pace, it is anticipated that we'll need 480,000 public chargers by 2035, there are currently around 25,000.
EZ-Charge, part of the Zeta Group, partnered with Oxfordshire County Council and the University of Oxford to develop the pioneering Park and Charge project in Oxfordshire. The partnership through EZ-Charge will install and operate 250 EV charge points in public car parks across Oxfordshire by March 2022.
A pilot launched in one car park in Bicester has proven just how vital the need for public EV chargers is to help the county move towards a zero-carbon transport system. Over the course of the 6-month pilot, a total of 828 charges were made, averaging 16kWh per charger per day for November, vastly exceeding the expected 10kWh!
Following the runaway success of this pilot, contracts were signed with 4 local Oxfordshire councils for EZ-Charge to install chargers in 19 more sites, increasing the number of charge points in Oxfordshire from around 450 to over 700.
Funding from the bond offer will provide EZ-Charge with the up-front finance to manufacture and install the charge points, helping more people make the switch to electric transport, a vital step to Oxfordshire meeting its net-zero goals.
Lisa Ashford, CEO of Ethex says: “We are delighted to see another successful raise of over £1 million for an impactful business that’s operating right here in Oxfordshire. Our investor base has really got behind sustainable transport initiatives this year and we’re very proud of everything they’ve helped to achieve, particularly in the development of a sound EV infrastructure.”
Phil Shadbolt of EZ-Charge says: “It has been an amazing journey to develop these charge points and now the completion of our seed funding means we can successfully deploy 250 charge points throughout Oxfordshire. I am looking forward to the next stage of our growth journey. 2022 will be a very exciting year at EZ-Charge!”
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