Charging firm Instavolt says that it has raised £250m to help support the next stage of its expansion across the UK and Ireland. 

The money has come about through debt refinancing, which is like remortgaging and releasing equity – the company has resold a package of debt to a consortium of investment funds and banks. It’s likely that the firm has borrowed the full amount against debt that it has partially paid off. 

Rather than building a conservatory or doing a loft extension, Electrifying.com's best charging network of 2025 says that it plans to forge ahead with new charging sites and also in developing its innovative battery storage systems that it has been rolling out in locations where the grid connection is less reliable. The batteries can be trickle charged over time and will provide faster EV charging on demand. 

It will also have its eye on new so-called 'Superhubs' like the one it opened in Winchester last year, with upwards of 20 rapid charge points located at major traffic points. 

The company says that the opportunity to buy into the debt refinancing was oversubscribed, showing the confidence that the financial providers have in the company’s efforts. 

Company CEO Delvin Lane said: “This refinancing marks a major milestone for Instavolt and for EV charging infrastructure in the UK. The significant interest and confidence from our lending partners reflects the strength of our network, the quality of our operations and the continued momentum behind the EV market.”

​The UK passed 120,000 charge points in April, according to plug mapping service Zapmap, and the momentum should keep going. The government recently announced plans to relax planning rules around new electric charge points to make it easier to build new ones.