JET Charge, an Australian electric vehicle charging infrastructure company, has raised AUD 72 million (approximately USD 45 million) in a recent funding round. This investment will drive the company’s mission to advance EV infrastructure across Australia and New Zealand, supporting the region’s transition to sustainable transportation.

Company Profile

JET Charge is a company founded in 2012 by Tim Washington and Ellen Liang, based in Melbourne, Australia. The company specializes in comprehensive EV charging solutions, from the supply and installation of chargers for residential and commercial clients. With over 20,000 chargers installed to date, JET Charge has established itself as a pivotal player in Australasia’s EV ecosystem.

Founders and Leadership

• Tim Washington: Co-founder and CEO, Tim Washington co-founded JET Charge on his way to taking leadership in the EV infrastructure business, underlining the imperative position electrification of transport stands for the future sustainable generation.
• Ellen Liang: Co-founder Ellen has contributed to the strategic direction of the growth of the company by integrating leading technology in EV charging solutions.

Funding Details

The latest funding round was led by Mirova, a subsidiary of Natixis Investment Managers focused on sustainable investing, through its Mirova Energy Transition Fund 6 (MET6). In addition, existing investors, such as CEFC, RACV, and Kilara Capital, invested, demonstrating confidence in the vision and execution of JET Charge.

Strategic Objectives and Use of Proceeds

This infusion is to drive the ‘Charging as a Service’ model that JET Charge has proposed and aims to simplify ownership for people by managing the complexity of charging infrastructure for its users. This service makes the upfront costs and the operating challenges of EV charging relatively easier to access by more people.

In addition, the money will go into proprietary technologies designed to power large-scale EV charging infrastructure. Innovations include CORE-an advanced on-site energy management system that optimizes power distribution and usage across a charging network-and Illuminate-a flagship asset management platform with real-time monitoring and maintenance capabilities for EV chargers, ensuring reliability and efficiency.

These technological developments are likely to be crucial in scaling up EV infrastructure to meet the increasing demand in Australasia.

Market Context and Growth Potential

The Australasian region is experiencing a significant shift towards electric mobility, with adoption rates of EVs steadily increasing. JET Charge’s comprehensive solutions address critical barriers to EV adoption, such as the availability and reliability of charging infrastructure.

By expanding its services and technological capabilities, JET Charge is well-positioned to support the anticipated growth in EV ownership, contributing to the broader goal of reducing carbon emissions and promoting sustainable transportation.

Investor Perspectives

Nicolas Hayon, Investment Director and Head of Mirova Singapore Division, pointed out the role of EV infrastructure in the decarbonization of transportation, saying: “We are proud to support companies like JET Charge, playing an instrumental role in developing and accelerating essential charging infrastructure across Australia and New Zealand.”

Similarly, Ben Gust from the CEFC, speaking through Virescent Ventures, emphasized the importance of electric vehicles in Australia’s clean energy transition and supported JET Charge’s leadership in the EV charging sector.

Future Prospect

With the capital raised substantially, JET Charge is well-positioned to fast-track the deployment of EV charging infrastructure across Australasia. The company focuses on innovation, scalability, and accessibility, which resonates with global trends in sustainable transportation and positions it as a key enabler in the region’s transition to electric mobility.

This way, using this new investment, JET Charge would address existing difficulties in EV infrastructure to make electric vehicles as practical and convenient a choice for consumers and businesses as possible.