Zouk Capital has entered exclusive negotiations with the government to manage the £400 million Charging Infrastructure Investment Fund (CIIF), one of a a package of measures aimed at helping to increase the uptake of electric vehicles.

CIIF will match £200 million raised from the private sector with £200 million from the government. Its objectives are to enable faster expansion of public EV charging networks and to increase the amount of capital invested in the sector.

London-based Zouk Capital, which has extensive experience in the EV charging infrastructure sector in the UK, was selected after a detailed bidding process run by the Infrastructure and Projects Authority. The fund will be invested in UK companies and platforms that comprise all elements of public EV charging infrastructure in order to make a commercial return for the UK Government and private sector investors.

Subject to negotiations, it is expected that the fund will launch in Spring 2019.

The Exchequer Secretary to the Treasury, Robert Jenrick, said: ““We want to increase the number of electric cars on our roads, but to achieve this we need to ensure drivers have access to the right infrastructure, including charge points.”

Samer Salty, managing partner of Zouk Capital said: “The CIIF sets the UK Government at the forefront internationally of support measures required for the electric vehicles ecosystem to flourish. 

“This fund will build a lasting public EV charging network that runs on clean energy, is fully open access and highly reliable to meet the needs of EV drivers today and give those yet to join the EV revolution the confidence to do so.”