JOLT receives a 150 million investment and plans to massively expand its urban HPC network

The Munich-based e-mobility company JOLT Energy GmbH (JOLT) has announced a large-scale expansion in European and North American cities following the securing of a 150-million investment by infrastructure capital provider InfraRed. The specialist in battery-buffered ultra-fast charging stations in urban areas plans to install thousands of fast-charging stations in European and North American cities in the coming years, as announced by the Munich and Dublin-based company. The expansion of an ultra-fast charging infrastructure aims to accelerate the transition to e-mobility and contribute to addressing the climate crisis.

Ultra-fast charging of electric vehicles in urban areas is to be facilitated by the combination of charging stations and battery storage. The stations enable a power output of up to 320 kW and can be connected to the existing low-voltage grid. The battery storage integrated into the stations provides additional energy for the charging process and allows charging for up to 100 kilometers of range in just five minutes. Cities and site partners have the option to quickly build a fast-charging infrastructure without complex construction measures or additional grid expansion, the provider advertises. This step is made possible by the completion of a large financing round with InfraRed Capital Partners (InfraRed), a leading international infrastructure investment company, which is investing €150 million in JOLT.

“With InfraRed, JOLT has found a financing partner that supports the development of future-oriented infrastructure and paves the way for the decisive change in e-mobility. Our ultra-fast charging stations with high-performance battery storage are the missing link to accelerate the energy and mobility transition in cities. These charging systems are an essential factor for city dwellers to fully utilize the potential of electric vehicles," believes Maurice Neligan, CEO of JOLT.

For Stephane Kofman, Partner and Head of Capital Gain Funds at InfraRed, the investment in a fast charging infrastructure for electric vehicles fits the approach of supporting a low-carbon future. The company has many years of experience in investments in renewable energy and batteries. He also sees "attractive growth potential" in the sector and is confident that expanding the network with ultra-fast charging stations will facilitate the widespread adoption of electric vehicles.

Focus on urban areas

JOLT Energy as a Charge Point Operator (CPO) was founded in 2018 and focuses on urban areas, where three out of four Europeans live, who mostly do not have adequate charging options for electric vehicles, as stated. The first locations in German cities are already in operation, with an additional 100 expected to follow by the end of the year. The stations will mainly be installed in inner-city, publicly accessible, and heavily frequented areas, such as supermarket parking lots. Thanks to the integrated battery storage, the charging stations can be connected to almost any low-voltage AC power grid without major construction measures and at the same time contribute to grid stability at the regional level.

The provider aims to cooperate with both cities and commercial establishments such as supermarkets, restaurants, and gas stations. Through these partnerships, cities could increase their attractiveness as locations. Commercial site partners, in turn, would have the opportunity to improve customer satisfaction and generate additional revenue.