Dealflow | August 30, 2021

BlackRock takes a stake in JOLT to accelerate electric vehicle adoption in Australia

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 30 — Australia is way behind in the global electric vehicle race. Sydney-based JOLT believes it can accelerate EV adoption with a network of clean energy charging stations.

JOLT offers EV owners up to 15 minutes of charging, or 7kWh, free of charge, allowing drivers to travel up to 28 miles. With a A$100 million ($72 million) investment from BlackRock, JOLT is aiming to add more than 5,000 new charging stations across the country.

Growth markets

The firm made the investment through its $4.8 billion global renewable energy vehicle (see, “BlackRock Real Assets closes $4.8 billion green energy fund). More than 10% of the fund will be allocated to EV charging infrastructure.