BlackRock-backed EV startup Jolt launches on-street chargers in UK

Jolt, an Australian EV charging startup, announced on Tuesday it is rolling out on-street EV chargers in London, England. The move is part of the company’s broader strategy to install 5,000 chargers across the United Kingdom within the next three to five years.

According to the announcement, Jolt is rolling out chargers in the London borough of Barnet. Jolt founder and CEO, Doug McNamee, stated that there are ongoing discussions to expand into other boroughs. Barnet has secured a £2.1 million ($2.6 million) government grant specifically for EV charging infrastructure, Reuters reported.

Founded in 2018 by Doug McNamee and backed by investment from BlackRock, Jolt uses a combination of wind and solar energy to power its chargers. The company, which already provides fast charging stations in Australia’s urban centers, has received substantial funding from BlackRock’s climate infrastructure fund.

Unlike the typical on-street public chargers that offer lower power outputs (often around 7 kilowatts), Jolt’s chargers operate at 25 kilowatts. This higher capacity makes them suitable for quick stops in densely populated urban areas, as opposed to overnight charging.

Jolt strategically places its chargers in locations with high demand for EV charging, such as near public transportation hubs and retail centers. The chargers come with user-friendly features, including contactless payment options and real-time charging status updates.

Jolt’s chargers also incorporate advertising, covering the cost of 7 kilowatt-hours of free charging for users, equivalent to approximately 30 miles (48.3 km) of EV range.

Since its inception five years ago, Jolt has secured over A$100 million ($63.7 million) in funding from BlackRock and operates in Australia and New Zealand. The company recently announced a partnership with Canadian telecoms company Telus to deploy 5,000 chargers across Canada.

While Jolt currently operates around 100 chargers, CEO Doug McNamee mentioned a global pipeline of approximately 7,500 chargers. The company has expanded its reach to the United States, navigating the diverse regulatory landscape of different states with the support of its partner, BlackRock.

“We’ve got a great partner in BlackRock, so we might be springing up somewhere else before you know it,” McNamee said regarding the company’s plans for the U.S. market.