JOLT Energy, a Dublin and Munich-based e-mobility company, which offers ultra-fast charging stations in urban areas, has scored €150 million in investment. The funds came from infrastructure capital provider London-based InfraRed Capital Partners.
Over the next few years, JOLT Energy aims to install thousands of fast-charging stations across European and North American cities. With the expansion of ultra-fast charging infrastructure, JOLT aims to accelerate the transition to electric mobility and make a significant contribution to addressing the climate crisis.
Maurice Neligan, CEO of JOLT said, “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. 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.”
Stephane Kofman, Partner and Head of Capital Gain Funds at InfraRed added, “Investing in rapid electric vehicle charging infrastructure aligns with our approach to supporting a low-carbon future. 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.”
Capable, high-power ultra-fast chargers
Founded by Maurice Neligan in 2019, JOLT Energy offers ultra-fast high-power chargers. Its charging infrastructure can charge vehicles up to 200 km in just 10 minutes, thanks to its up to 320 kW output capacity. Its charging stations feature integrated battery storage, enabling them to connect to the standard low-voltage grid without the need for extensive grid extensions.
The company aims to provide reliable, ultra-fast charging in major urban centres 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. It 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. Municipal and commercial site operators will get JOLT´s premium chargers without having to invest in or operate chargers themselves.
JOLT’s charging network serves as an intelligent energy storage system that can balance the supply and demand of electricity from renewable sources in real-time, stabilising the grid and creating additional revenue streams. It not only meets the demand for ultra-fast charging by its customers and partners but also supports the transition towards a sustainable all-electric transportation system.