JET Charge, a Melbourne-based firm and leader in electric vehicle charging solutions, has just closed a new funding round for AUD $72 million or USD $45 million. Founded in 2012 by Tim Washington and Ellen Liang, the company will use the funds raised to improve electric vehicle charging infrastructure across Australia and New Zealand, further strengthening its leadership position in the region’s shift toward sustainable transportation.
JET Charge specializes in end-to-end EV charging solutions, consisting of chargers, cables, as well as installation services for a both residential and commercial clients. The company has now installed over 20,000 chargers in Australia so far and recently reached out to New Zealand’s operations. Its “Charging-as-a-Service” is a pioneering model. Its “Charging-as-a-Service” does not only offer the top-end EV charger but also management, support, and maintenance ongoing after installation. This model underlines the company’s commitment to ensuring reliable, scalable, and user-friendly EV infrastructure for individuals and businesses alike.
The newly raised funds will enable JET Charge to accelerate the expansion of its Charging-as-a-Service offerings while advancing its technological capabilities to operate EV charging networks at scale. Co-founder and CEO Tim Washington spoke to his passion for the company’s mission: “The electrification of transport is the key to a sustainable future, and 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.
Mirova, a sustainability-focused investment firm operating through its Mirova Energy Transition Fund 6, led the funding round, with existing shareholders Clean Energy Finance Corporation, RACV, and Kilara Capital also participating in the round. Nicolas Hayon, Investment Director, and Head of Mirova’s Singapore Division, emphasizes the strategic importance of the EV infrastructure in achieving decarbonization goals globally. “Infrastructure EV is at the heart of transporting towards decarbonization and for Net Zero,” he said, “It is an absolute pleasure for us to have opportunities in sponsoring and having companies such as JET Charge contribute to developing critical charging infrastructure in Australia and New Zealand.”.
Since its inception, JET Charge has been a leader in addressing the challenges associated with EV adoption in Australia, where the transition to electric vehicles has been slower compared to other developed markets. The company hopes to remove one of the major barriers to EV adoption-range anxiety-by providing easy access to reliable charging solutions. Its efforts align with growing government and industry support for cleaner transportation alternatives: Australia and New Zealand both operate in a policy environment, striving to meet carbon abatement targets.
The investment is a landmark milestone in the partnership between JET Charge and sustainable investors. With Mirova and other stakeholders behind it, the company will be able to respond to the increasing demand for more robust EV charging infrastructure because of the continued growth of sales of electric vehicles in the region. Furthermore, the funds will enable JET Charge to scale its business and stay ahead in a competitive market where innovation and sustainability play an important role.
JET Charge is expanding its presence in New Zealand to achieve a broader vision of making EVs accessible and practical across the Australasian region. The company has gained a reputation as a trusted partner for individuals, businesses, and governments who want to embrace electric mobility, given its focus on cutting-edge technology and customer-centric solutions. As the global automotive industry continues to shift towards electrification, JET Charge’s efforts will play a pivotal role in shaping the future of transportation in Australia and New Zealand.
This latest investment shows that leading investors have confidence in the capability of JET Charge while underlining the growing appreciation for the role of EV infrastructure in the fight against climate change. With all the support from its investors and stakeholders, JET Charge is poised to spearhead the charge in building the region’s sustainable and electrified transportation future.