Aberdeen-based electric vehicle (EV) charging firm Trojan Energy has secured £26 million in investment in its latest funding round.
The latest funding round included £8 million from investment firm BGF alongside an £18 million follow-on investment by the Scottish National Investment Bank.
Launched in 2016 by four ex-offshore engineering executives, Trojan’s charging technology provides on-street EV charging technology that is “flat and flush” with the pavement.
The chargers are manufactured at the company’s Granite City headquarters, located within the Energy Transition Zone at the Altens Industrial Estate, with the firm now employing 68 people.
To date, Trojan has deployed 600 charge points across local council areas in Camden, Brent, Barnet and Oxfordshire.
EV charge points
Trojan Energy chief executive officer Ian Mackenzie said the funding will allow the company to deploy several thousand more charging points across the UK.
“Trojan will be firmly on track to become one of the biggest providers of on-street EV charging in the UK, continuing our work as the world’s largest ‘clutter free’ on-street charging solution,” Mr Mackenzie said.
Scottish National Investment Bank executive director Nicola Douglas said Trojan Energy had gone “from strength to strength” following the bank’s initial investment in 2022.
“This investment aligns with our net zero mission as Trojan Energy’s green technology will play a part in supporting Scotland and the UK to reach important net zero targets by opening up EV charging to more potential users,” Ms Douglas said.
Trojan Energy said the new investment from BGF and the Bank will support the continued rollout of Trojan Energy chargers across the UK.
The company recently partnered with Barnet council to install around 1,300 on-street charge points.
With the UK aiming to rollout 300,000 public EV charge points by 2030, Trojan said there is a “strong pipeline” of new opportunities, including in England as part of the Local Electric Vehicle Infrastructure (LEVI) fund.