New UK joint venture to roll out residential EV charging points
Posted: 21 May 2020 | Sam Mehmet (Intelligent Transport)
The venture aims to provide charge point operators and local authorities with so-called ‘plug and play’ on-street charging facilities in large cities and towns where many residents don’t have access to off-street parking.
Liberty Global Ventures, the international TV and broadband company, and Zouk Capital have announced a joint venture partnership, Liberty Charge, which aims to roll out on-street residential electric vehicle (EV) charging points in the UK.
Leveraging Virgin Media’s connectivity network, infrastructure deployment capabilities and relationships with local authorities, the 50:50 joint venture will focus on providing the “under-the-pavement” power and communications infrastructure necessary for EV charging in residential areas.
Zouk is the manager of the Charging Infrastructure Investment Fund (CIIF), the dedicated fund established by the UK government in 2019 and backed by HM Treasury to help develop public charging infrastructure points for EVs throughout the UK.
According to research, more than 40 per cent of urban vehicle owners do not have access to a driveway they could use to charge an EV, which the joint venture has set out to change.
Jason Simpson, Vice President Global Energy and Utilities for Liberty Global, said: “This investment from Zouk re-enforces our belief that there is significant value in leveraging Virgin Media’s wide ranging infrastructure and connectivity capabilities into new and fast growing sectors such as eMobility and Energy. Zouk Capital is the perfect partner in this venture thanks to their sector expertise and focus on sustainability. We look forward to working with them to help drive electric vehicle adoption in the UK.”
Massimo Resta, Partner at Zouk Capital, added: “CIIF’s central objective is to scale open-access, public EV charging networks for the UK consumer and this is exactly what Liberty Charge will achieve for the thousands of car owners, who do not have access to off street parking. Liberty Global’s infrastructure deployment capabilities and Virgin Media’s extensive connectivity network make it perfectly positioned to rapidly deploy on-street residential charging in UK towns and cities, and we are excited to be partnering with them on this opportunity.”