Electric vehicle (EV) charging firm Trojan Energy has plans to expand its team and ramp up installations after securing £9million in funding from the Scottish National Investment Bank (SNIB).
Aberdeen-based Trojan has developed “flat-and-flush” charge points for EVs, which fold flat after use – removing potential obstructions to roadside infrastructure and leaving the pavement clear.
The company hopes its smaller form factor will make charging more affordable and available for the roughly 10 million people in the UK who use on-street parking and currently do not have access to charging infrastructure.
A new £9m capital commitment from SNIB will now help scale up the business, with the aim of installing more than 2,000 charging points by the end of next year.
Trojan also hopes to “significantly” increase its staff base, with plans to double the size of its workforce by March 2023.
The latest commitment adds to that received from several other early-stage investors, including Scottish Enterprise.
Trojan chief executive Ian Mackenzie said the firm had contacted the bank for support in light of the pair’s “clear alignment of missions”.
“Our charging system is designed specifically to help accelerate the journey to net zero by making electric charging points more accessible. We want the EV transition to be for everyone, not just those with a driveway,” he added.
“The Bank has been there for us at the crucial point where we are beginning to get big orders in. The investment will allow us to further commercialise our technology and increase our manufacturing capacity.”
Based on a telescopic “lance” design, Trojan’s 22kW “Aon” chargepoints are set into the pavement and can be stowed away after use.
They can be either individually connected to household electricity supplies or powered by distribution cabinets via underground ducts located up to 100 metres away. These cabinets can send power to 15 charging points at once.
The firm now plans to further commercialise the technology, decreasing the size and cost of cabinets and offering a wider range of charging options.
SNIB executive director Nicola Douglas said: “We are delighted to support Trojan with their significant scale up plans. EV infrastructure is a vital element of the transition to electric vehicles.
“I have been massively impressed with the drive and determination of the Trojan team and look forward to working with them and seeing the delivery of their growth plans.”
The bank has previously invested £2m in another EV-focused firm, Forev, which owns and operates an EV charging network.