The Scottish National Investment Bank (SNIB) has invested a further £10 million into electric vehicle charge point operator, FOR EV.
This brings investment by SNIB behind the Edinburgh-based firm to £22m since 2021. The initial investment was made with the aim of creating a network of over 1,700 EV charging points in Scotland.
SNIB executive director Andy Clapp said: “The provision of sufficient charging points is an essential part of Scotland’s net zero transition.
“We are pleased to back FOR EV’s ambitious plans and its ability to grow and scale as a company, delivering widespread environmental and economic impact.”
Ferry port chargers
News of the latest cash injection comes as FOR EV confirmed the installation of a rapid electric vehicle charging facility at the Loch Ryan ferry port at Cairnryan, near Stranraer.
The new charging hub, which can charge eight electric vehicles simultaneously and provide around 320 charging sessions a day, is the result of a public-private joint venture between FOR EV and regional economic development agency South of Scotland Enterprise (SOSE). SOSE has invested £170,000 into the facility within the “landside” area of the port, which forms part of the UK’s busiest domestic short sea route, Cairnryan-Belfast.
Further, Police Scotland has been given private access to two additional charging stations in the area.
© Supplied by FOR EVLindsay Wallace, executive director for sales and innovation Europe of FOR EV, said the group plans to expand further in the south of Scotland area. He said: “The £10m of follow-on investment from the bank will support our ambitious plans to further improve EV infrastructure across the country.
“For example, we hope to work with SOSE to explore other prospective charging sites that will help accelerate the development of a robust EV infrastructure for Dumfries and Galloway and the Scottish Borders.”
However, with the slackening of governmental mandates the transition to electric vehicles, commercially and domestically, has proven slower than expected.
FOR EV is a Scottish electric vehicle charging point installation and operation company, whose wider goal is to support the transition to electric vehicles in the larger pursuit of a net-zero Scotland.
Recommended for you
