Jolt agreement could spark charging station uptick in Europe

Funding round intended to spur copper-intensive electric vehicle charger installations.

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January 13, 2021

Munich-based Jolt Energy GmbH says it has engaged Ireland-based Apricum to advise and manage a funding round designed for “raising growth capital to bring high-power charging to urban areas where 70 percent of drivers live.”

Jolt says it has principally been funded through private placements during the last three years, but additional funding can be used to accelerate the growth of the company as it launches its ChargeMyCity campaign to finance and install 500 high-power chargers in 50 cities in 500 days. Jolt also says it has recently concluded an agreement with United Kingdom-based EG to install chargers at EG’s ESSO branded service stations, starting in Southern Germany.

The Washington-based International Copper Association says electric vehicle (EV) chargers can contain from 1.5 to 17.5 pounds of copper each, depending on the size and wattage.

“We’re very excited to work with Apricum on this funding project,” says Maurice Neligan. CEO of Jolt. “We’re at the beginning of an e-mobility revolution led by Tesla’s success. Apricum’s expertise in the area of cleantech fund raising will be key to Jolt’s growth strategy.”

“Jolt’s leading-edge approach to deploying high-power charging infrastructure in cities represents a very compelling investment case, and we look forward to finding suitable partners through our extensive global network,” says Florian Mayr, partner at Apricum.