A joint-venture between Virgin Media’s parent company Liberty Global and Zook Capital will see on-street electric vehicle charging points rolled out across the UK.
Liberty Charge will use Virgin Media’s cable network as the foundation of the rollout, making use of its infrastructure, deployment experience, and existing relationships with local authorities. Under-the-pavement power will be used to power the units in residential areas.
Zouk Capital manages the Charging Infrastructure Investment Fund (CIIF), a government-backed initiative, and the partners claim the venture will help achieve the UK’s national sustainability goals by driving demand for electric cars.
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Liberty Charge electric vehicles
It is claimed that 40 per cent of urban vehicle owners don’t have access to a drive way that could host a charging point, a major barrier to ownership that could be rectified.
“CIIF’s central objective is to scale open-access, public EV charging networks for the UK consumer and this is exactly what Liberty Charge will achieve for the thousands of car owners, who do not have access to off street parking,” said Massimo Resta, partner at Zouk Capital.
“Liberty Global’s infrastructure deployment capabilities and Virgin Media’s extensive connectivity network make it perfectly positioned to rapidly deploy on-street residential charging in UK towns and cities, and we are excited to be partnering with them on this opportunity.”
“This investment from Zouk re-enforces our belief that there is significant value in leveraging Virgin Media’s wide ranging infrastructure and connectivity capabilities into new and fast growing sectors such as eMobility and Energy,” added Jason Simpson, head of global energy and utilities at Liberty Global.
Earlier this month Liberty Global agreed to merge Virgin Media with Telefonica’s O2 in the UK, paving the way for the creation major UK communications player capable of rivalling BT. The addition of the electric vehicle charging network would provide Liberty with a further revenue stream.
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