Liberty Charge Launches National EV Infrastructure Rollout in London Borough

Rhea-AI Summary

Liberty Charge, a joint venture between Liberty Global and Zouk Capital, has successfully completed its first electric vehicle (EV) charging installation in Waltham Forest, London. This project involves deploying 20 charging points across 10 sites, with plans to expand to 50 sites. The initiative supports the UK’s goal of increasing EV charging points, as highlighted in a Policy Exchange report. Liberty Charge leverages Virgin Media's infrastructure to enhance EV adoption, aiming to address infrastructure challenges as the UK targets carbon neutrality by 2050.

Positive

• Successful installation of 20 EV charging points in Waltham Forest.
• Expansion plans to increase charging points to 50 sites.
• Joint venture leverages Virgin Media's infrastructure, enhancing deployment capabilities.

Negative

• None.

Liberty Charge, the joint venture created by Liberty Global and Zouk Capital to rollout on-street electric vehicle charging points in the UK, has today announced the successful completion of its first UK installation in the London borough of Waltham Forest.

The project will see the joint venture install 20 charging points across 10 sites in the borough. This figure will increase to 50 sites as future locations are determined. The announcement follows a report from Policy Exchange in February 2021 which found that the UK needs to install five times as many EV charging points to meet its climate goals.

Waltham Forest is the first installation in a national programme being rolled out by Liberty Charge. More areas for deployment will be confirmed during the course of this year as Liberty Charge continues discussions with local authorities throughout the UK to maximise on-street electric vehicle charging opportunities for residents.

The joint venture, which was set up last May, leverages Liberty Global UK subsidiary, Virgin Media’s network infrastructure, deployment capabilities and trusted relationships with local authorities. Zouk is the manager of the Charging Infrastructure Investment Fund (CIIF), the dedicated fund established by the UK Government in 2019 and backed by HM Treasury to help develop public charging infrastructure points for electric vehicles throughout the UK.

Neil Isaacson, CEO, Liberty Charge, comments: “Recent research has highlighted the need to do much more to meet the rising consumer demand for electric vehicles charging if the UK government’s carbon neutral targets are to be met. There are many challenges on the road to net zero and at Liberty Charge we’re doing everything we can to ensure that charging infrastructure is not a limiting factor. We look forward to partnering with other local authorities to give residents more opportunities to charge their electric vehicles on the street.”

Cllr Clyde Loakes, Deputy Leader, Waltham Forest Council, added: “Waltham Forest is dedicated to enabling people to convert to EVs to reduce vehicle related emissions and promote more sustainable forms of transport. Working with Liberty Charge, which can tap into Virgin Media’s infrastructure and capabilities, is a logical decision to maximise expertise, minimise disruption and help build a best-in-class on-street charging network.”

The charging points will be operated by EV DOT, a publicly accessible electric vehicle charging network owned and operated by BMM Networks. The charge points provide access to a charging capacity of up to 22 kW and cost EV drivers 30p per kWh to charge.

ABOUT LIBERTY CHARGE

Liberty Charge works in partnership with Local Authorities, Chargepoint operators and other eMobility stakeholders to help deliver power and connectivity infrastructure for onstreet EV Charging in residential areas of UK Cities and Towns to serve residents without offstreet parking and charging. We are a joint venture between Liberty Global and Zouk Capital leveraging all the build capabilities and network assets of Virgin Media, a Liberty Global subsidiary. Zouk Capital is a London-based sustainable infrastructure and growth technology fund manager. Zouk is the fund manager for the UK Treasury's Charging Infrastructure Investment Fund (CIIF).

ABOUT ZOUK CAPITAL

Zouk Capital is a sustainable infrastructure and growth technology fund manager. Zouk's distinctive dual-track strategy capitalises on the commercial opportunities created by a global shift to greater resource efficiency, decarbonisation of industries and sustainability. Zouk’s infrastructure investment funds invest in projects and companies in the renewable energy and environmental infrastructure space, including sectors such as electric vehicle charging infrastructure, waste-to-energy, energy efficiency and distributed small-scale energy. Zouk manages the UK Treasury’s Charging Infrastructure Investment Fund, which aims to catalyse the rollout of electric vehicle charging infrastructure that is required to support the electrification of vehicles. Zouk has invested in the sustainable economy since 2000, has almost €900m under management and is based in London.

ABOUT LIBERTY GLOBAL

Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in seven European countries under the consumer brands Virgin Media, Telenet, UPC, the combined Sunrise UPC, as well as VodafoneZiggo, which is owned through a 50/50 joint venture. Our substantial scale and commitment to innovation enable us to invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.

Liberty Global delivers market-leading products through next-generation networks that connect customers subscribing to 49 million broadband, video, fixed and mobile telephony services across our brands. We also have significant investments in ITV, All3Media, ITI Neovision, LionsGate, the Formula E racing series and several regional sports networks.

For more information, please visit www.libertyglobal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005509/en/

FAQ

What are the recent developments of Liberty Charge in relation to EV charging?

Liberty Charge has completed its first installation of 20 EV charging points in Waltham Forest and plans to expand to 50 sites.

What is the significance of the Liberty Charge project for the UK?

The project addresses the urgent need for more EV charging infrastructure, as highlighted by a Policy Exchange report.

How does Liberty Charge support the UK's climate goals?

By increasing the availability of EV charging points, Liberty Charge supports the UK’s target for carbon neutrality by 2050.

Who operates the new EV charging points installed by Liberty Charge?

The charging points will be operated by EV DOT, a network owned by BMM Networks.

What costs are associated with using the new charging points from Liberty Charge?

Charging at the new points will cost EV drivers 30p per kWh.