Clean energy firm Trojan Energy has secured £2.2 million in funding to support the roll-out of its on-street electric vehicle charging hubs.
Trojan Energy confirmed the investment will be used to further improve its charging technology, install additional charge points across the country and expand its team.
Ian Mackenzie, CEO of Trojan Energy, commented: “We specialise in EV charging without pavement clutter, and this investment allows us to commercialise further the technology and expand our business, creating more charging points on each street and making the technology accessible to more customers.”
Launched in 2016, the Aberdeenshire firm provides easy-to-use, on-street charging points for electric vehicles.
These “flat-and-flush” roadside charging points are connected via underground ducts to cabinets, which are discreetly located up to 100 metres away and capable of sending power to 15 charging units at one time.
Trojan Energy was launched to address the lack of electric vehicle charging infrastructure in urban environments across the UK. Long-term, the firm says its vision is to become the country’s go-to charging solution for electric vehicles.
Fraser Lusty of Scottish angel investors Equity Gap said: “This investment in Trojan Energy comes after an extremely successful year for the company, following our initial seed funding investment in 2020.
“The market potential for Trojan Energy is immense, and its technology is applicable worldwide. The technology is unique and, by enabling the team to further develop and refine its cutting-edge EV charging system, we expect to see Trojan Energy expand to other areas of the UK and rapidly gain market share.”
The latest funding round follows a successful period for Trojan Energy, which has grown its workforce from four employees to a team of 12.
Following the investment, it plans to increase the team size to around 20 by creating a range of new roles spanning engineering, project management and customer services.
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Trojan Energy recently launched its charging technology on the streets of the London Borough of Brent, and plans to trial up to 150 charging points in Brent and in nearby Camden by late 2021.
Jan Robertson, Interim Director of Growth Investments at Scottish Enterprise, said: “It is fantastic to see this innovative company developing the solution to a problem that might otherwise slow down the UK’s transition to clean energy.
“The fact that the company’s founders hail from the oil and gas industry and now are leading the way in the energy transition is a fantastic example of pivoting the nation’s skills in this new era of clean energy. Scottish Enterprise is excited to support the progress that Trojan Energy is expected to make in the coming months and years.”