Jolt Secures $A214 Million Loan for Expanding EV Charging Network in Canada
Key Ideas
- Jolt secures a $A214 million loan from the Canada Infrastructure Bank to expand its EV charging network in Canadian cities, enabling the installation of up to 1500 curbside EV chargers.
- The loan will provide up to 7 kilowatt-hours of free, fast charging per car per day, supporting Canadians' need for convenient charging points in urban centers.
- The Canadian government aims to deploy 84,500 EV chargers and additional hydrogen stations by 2029 to achieve 100% zero-emission vehicle sales by 2025 for all new light-duty vehicles.
- Jolt's CEO Doug McNamee highlights the partnership as a significant step towards making electric vehicle ownership more accessible and convenient, with a focus on innovation and sustainability.
Australian EV infrastructure company Jolt has secured a $A214 million loan from the Canada Infrastructure Bank (CIB) to enhance its charging network in Canadian cities. The loan will facilitate the installation of up to 1500 curbside EV chargers, offering up to 7 kilowatt-hours of free, fast charging per car per day, aiming to address the growing demand for convenient charging options. The CIB's investment in expanding EV charging infrastructure aligns with the Canadian government's goal of achieving 100% zero-emission vehicle sales by 2025 for new light-duty vehicles.
The partnership also extends to the Charging and Hydrogen Refuelling Infrastructure Initiative (CHRI) to deploy 84,500 EV chargers and additional hydrogen stations by 2029. Jolt's commitment to providing accessible EV charging is further supported by its collaboration with Telus and digital Out-of-Home advertising integrated into the charging kiosks.
Jolt's CEO Doug McNamee sees the partnership as a vote of confidence in Jolt's EV charger network, emphasizing the importance of kerbside fast charging for electric vehicle transition. The initiative aims to alleviate consumer range anxiety, accelerate EV adoption, and reduce transportation sector emissions. Jolt's expansion of EV charging infrastructure in Canada is viewed as a step towards making electric vehicle ownership more accessible and convenient, fostering innovation and sustainability in the transportation sector. The company, known for its renewable energy-powered network, has established partnerships in Australia, New Zealand, the UK, and now, Canada.
Topics
Installation
Renewable Energy
Innovation
Sustainability
Transportation Sector
Canada Infrastructure Bank
EV Charging Infrastructure
Electric Vehicle Adoption
Digital Out-of-Home Advertising
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