Trojan Energy secures £2.2 million Seed Follow On investment led by Equity Gap

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Trojan Energy secures £2.2 million to address lack of EV charging points in urban areas and  create new jobs  

Trojan Energy, the clean energy company, has secured a late seed round investment of £2.2 million  to roll out its unique, flat-and-flush on-street EV (electric vehicle) charging hubs and develop further  commercial applications of its technology. The round was led by Scottish angel investors Equity Gap,  and includes investment from Scottish Enterprise, SIS Ventures and Aberdeen-based angel investors  Alba Equity. 

With the UK target market alone worth well over £1 billion, the ambitious company will use the funding  to improve its technology and applications by volume level manufacturing, rolling out charge points in  more areas and growing their team.  

Trojan Energy’s vision is to make EV charging available to everyone, ensuring a fair price and  efficient, convenient charging infrastructure. It aims to be the de facto on-street charging solution for  EVs in the UK by the end of 2023.  

Customers use a lance which connects their vehicle to a flat-and-flush charging point in the street,  charging at the roadside. The flat-and-flush design means the pavement is clear of clutter and fully  accessible to other pavement users. The charging points are connected via underground ducts to cabinets, located discreetly up to 100m away, which can send power to 15 charging units at any one  time. By taking the technology to the next stage, the company will decrease the size of the cabinets,  reduce costs and offer a wider range of charging options to customers.  

Jan Robertson, Interim Director of Growth Investments at Scottish Enterprise, said:

“It is fantastic to  see this innovative company developing the solution to a problem that might otherwise slow down the  UK’s transition to clean energy. The company’s flat-and-flush design for on-street charging makes  EVs a real option for many households without driveways. The fact that the company’s founders hail  from the oil and gas industry and now are leading the way in the energy transition is a fantastic  example of pivoting the nation’s skills in this new era of clean energy. Scottish Enterprise is excited to  support the progress that Trojan Energy is expected to make in the coming months and years.” 

Fraser Lusty of Scottish angel investors, Equity Gap, said:

“This investment in Trojan Energy comes  after an extremely successful year for the company, following our initial seed funding investment in  2020. The market potential for Trojan Energy is immense, and its technology is applicable worldwide.  The technology is unique and, by enabling the team to further develop and refine its cutting-edge EV  charging system, we expect to see Trojan Energy expand to other areas of the UK and rapidly gain  market share.” 

Ian Mackenzie, CEO of Trojan Energy, said:

“Trojan Energy was formed with one mission: to ensure  everyone benefits from the energy transition. Currently, 10 million people in the UK who park on-street  don’t have access to electric vehicle charging. That’s 10 million people that, without Trojan Energy,  could be left behind by the energy transition. We specialise in EV charging without pavement clutter,  and this investment allows us to commercialise further the technology and expand our business,  creating more charging points on each street and making the technology accessible to more  customers. We will create new jobs and move the UK towards net-zero at a fair price for all.”

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Based in Aberdeenshire in the North-East of Scotland, Trojan Energy has grown its workforce from its  founding team of four just last year to a team of 12. It plans to increase the team to around 20 by  creating new roles including engineering positions, project managers and customer service leads. 

The company was launched in 2016 to create a system that offers an equal opportunity for EV drivers  without a driveway to charge up their vehicles near home, without inconveniencing other pavement  users. It aims to provide immediate, cheap, green energy at up to 22kW via charge points in hubs of  15, or single units powered by the home, to address the lack of EV charging infrastructure in the  urban environment with cost effective systems.  

Trojan Energy recently launched its technology on the streets of the London Borough of Brent and  plans to install up to 150 charging points to be trialled by customers in Brent and in nearby Camden  by late 2021. 

To find out more visit www.trojanenergyltd.com 

Ends 

For more information contact: Jen Richards, [email protected] 

Download Photography:  

https://www.dropbox.com/sh/z4hjcu818ghzpi2/AAChZS4_k0u9CeAPTpOUJoB-a?dl=0

About Trojan Energy 

Trojan Energy is a clean energy company developing unique technology to power on-street charging  points for electric vehicles. Based in Stonehaven in the North-East of Scotland, the company was  founded by former oil and gas executives and has developed a system of flat-and-flush charge points  that leave the streetscape uncluttered while giving drivers the ability to charge EVs at the kerbside.  Solving the lack of urban EV charging infrastructure, the system makes it possible for everyone to  benefit from the energy transition. The company has recently launched its charging points on the  streets of London and plans to install up to 150 charging points across Brent and Camden as part of a  large-scale trial.

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Safiya Marzook

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