Electric vehicle charging firm POD Point clinches £7.5m
Charge point company aiming to have one of its stations installed everywhere people park for an hour or more by 2020
POD Point, the electric vehicle charge point supplier, has landed £7.5m in funding from Draper Esprit and Barclays Capital.
Founded in 2009 by Erik Fairbairn, POD has manufactured and sold over 27,000 electric vehicle charge points to date and claims to have developed one of the UK’s largest public charging networks.
Its charging bays can be found nationwide at locations such as Sainsbury’s and Southern Rail, while it counts Lloyds Banking Group, Britvic and O2 Telefónica as workplace customers.
POD recently secured partnerships with Barrat Homes, Holiday Extra and Hyundai and is aiming to have one of its stations installed everywhere people park for an hour or more by 2020.
The investment will fuel this next stage of growth, creating 50 new jobs in the UK and laying the foundations of its plans to expand across the country and Europe.
Fairbairn commented: “This is a significant milestone for a sector that has been gathering momentum for some time. The way people use cars is changing and how they are powered is at the epicentre of that. Travel shouldn’t damage the earth, which is why we are building the most advanced intelligent charging network in the UK, the POD Point Open Charge Network.”
Simon Cook, CEO of Draper Esprit, said “We not only think that the EV market will develop at pace over the next decade, but that POD point is set to play a significant role in enabling adoption. We are proud to be backing a company who are committed to creating cleaner cities and mitigating climate change.”