With its fast-charging stations, Jolt Energy relies on battery storage to supplement existing low-voltage grids in cities. They provide additional energy for the charging process and enable charging for up to 100 kilometers of range in five minutes. The charging stations deliver a power output of up to 320 kW. the startup make it possible to build fast-charging infrastructure without having to make major interventions in the power grid.
In the coming years, the startup plans to install thousands of fast-charging stations in European and North American cities. This is made possible by the recent completion of a financing round with Infrared Capital Partners, an international infrastructure investment firm. The investor has invested €150 million in Jolt through a capital allocation to support the company's growth.
Maurice Neligan, CEO of Jolt, says:
"With Infrared, Jolt has found a financing partner that supports the development of a future-oriented infrastructure and paves the way for the decisive transformation in e-mobility. Our ultra-fast charging stations with powerful battery storage are the missing link to accelerate the energy and transport transition in cities. These charging systems are a key factor in enabling city dwellers to realize the full potential of electric vehicles."
Jolt aims to facilitate the spread of electric vehicles
Stephane Kofman, Partner and Head of Capital Gain Funds at Infrared, adds:
"Investing in fast charging infrastructure for electric vehicles fits with our approach to supporting a low-carbon future. Infrared has extensive experience investing in renewable energy and batteries. With our investment in Jolt, we are focusing on a sector with attractive growth potential. Expanding the network with ultra-fast charging stations will facilitate the adoption of electric vehicles. We are proud to partner with Jolt and play our part in decarbonizing transport."
Jolt plans to partner with cities as well as commercial establishments such as supermarkets, restaurants, and gas stations to set up charging stations in central locations for electric vehicle drivers. In the first German cities The startup, founded in 2018, already has 100 locations in operation, with another 100 to follow by the end of the year.
