An investment company buys a significant stake in weevcharging, a firm which is developing an electric car charging network in Northern Ireland.
An investment company has bought a significant stake in Weev, a firm which is developing an electric car charging network in Northern Ireland.The investor is the Octopus Group, which is best known as one of the largest energy suppliers in Great Britain.The deal with Weev is the first investment for the Octopus Sustainable Infrastructure Fund ; a fund backed by the UK Infrastructure Bank.
Weev was set up by Northern Ireland businessmen Dominic Kearns and Thomas O'Hagan last year with the aim of creating Northern Ireland's largest privately operated electric vehicle charging network.Philip Rainey, the chief executive of Weev, said the deal would enable "a major expansion to the size and scope of the rollout we announced at launch last year".
"Weev is the perfect example of the next generation of infrastructure companies doing just that," he continued.Data released from the UK's Department for Transport found there were 19 charging devices per 100,000 people.
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