Australia’s Jet Charge brings in $72 million in latest capital raise

Jet Charge, Australia’s leading hardware supplier and installer of electric vehicle charging infrastructure, says it has raised $72 million in equity investment to further accelerate the transition to electric vehicles (EVs).

The capital raised will be used to scale up the company’s rollout of charging infrastructure in an effort to make EVs an increasingly practical option for all drivers.

“Jet Charge was founded on the belief that electrifying transport is key to achieving a sustainable future,” said Tim Washington, co-founder and CEO of Jet Charge.

“This funding will enable us to build the scalable, accessible, and reliable infrastructure required to make EVs a practical choice for every Australian and New Zealander.”

Co-founder Ellen Liang says the new capital will help accelerate the rapid deployment of Charging as a Service (CaaS), bolstered by its in house technologies and on-site energy management systems.

“CaaS removes the cost and complexity of operating an EV charging network, eliminating many of the upfront capital barriers by seamlessly bridging the digital and physical worlds to deliver a reliable EV charging network,” Liang added.

The latest funding round was a Series C led by global asset management company Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, through its Mirova Energy Transition Fund 6.

Other participants in the funding round included existing shareholders the Clean Energy Finance Corporation, RACV, and Kilara Capital.