This second close was anchored from the private sector by Church Commissioners for England (which manages £8.3 billion), with funding matched by HM Treasury. The fund now has a total of £150 million deployable capital (£275 million in signed commitments against a target of £400 million), following the first close announced at launch in September 2019.
Access to public electric vehicle (EV) charging is a key initiative within the UK government’s drive to reduce net carbon emissions to zero by 2050. CIIF is dedicated to catalysing the rollout of a robust and diversified public EV charging infrastructure that is required to support the electrification of vehicles throughout the UK. The first investment from the fund was made in InstaVolt, which develops, installs, owns and operates rapid EV charging stations in the UK and has plans to bolster UK rapid charge points nationally to 5000.
“We are pleased to make this commitment to the Zouk Charging Infrastructure Investment Fund which will help support the roll out of the UK's public charging infrastructure over the coming years” said Chris West, Head of Indirect Property, Timberland and Infrastructure - Church Commissioners for England. “This investment is aligned with our goal of achieving a net zero emissions portfolio through driving down carbon emissions in the real economy and speeding the energy transition.”
Samer Salty, Managing Partner Zouk Capital added that despite the unprecedented world in which we all live now as a result of COV-19, Zouk Capital sees no shortage of investors who believe in the long-term fundamentals of CIIF, which is underpinned by the need to rapidly decarbonise the UK’s transport sector and improve air quality, which creates an opportunity to make environmentally impactful financial returns through the creation of these large renewable energy powered public EV charging networks.
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