Stake in Bristol’s Zap-Map app snapped up as green energy firm charges into electric vehicle market

March 8, 2019
By

The Bristol-based firm behind Zap-Map, an app for electric vehicles owners that helps them find charging points, has secured a £1m investment from green power firm Good Energy.

Chippenham-headquartered Good Energy has acquired a 12.9% share in Next Green Car Ltd, with an option to take a majority share within two years. 

Zap-Map has 70,000 monthly uses who use it to plan routes, locate charge points and check their availability.

With 200,000 EVs already on UK roads, and government incentives accelerating future take-up, Good Energy said its investment in Zap-Map was had a “compelling strategic and commercial rationale”.

It said the two firms shared a vision for accelerating the adoption of EVs in the UK, including developing power sharing solutions for customers, both household and commercial while also reinforcing Good Energy’s focus on power sharing services.

Good Energy, which has a special tariff for EV drivers, said the partnership would also give it access to an “engaged EV community” at the start of a rapid growth phase, broadening its market potential. Zap-Map users have access to more than 11,000 charging devices located across service stations, car parks, retail sites and private driveways.

The firm said the number of EV drivers in the Zap-Map community and the number of charge points in its network had increased rapidly and growth potential for the UK EV market was compelling.

The government has targeted 60% of all new vehicles on British roads to be electric by 2030, with the UK EV market forecast to grow at an annual compound growth rate of over 25%over this period.

More than 30 new EV modelsexpected to enter the market in the next year alone, while £400m has been pledged to the Charging Infrastructure Investment Fund already.

Spike Island-based Zap-Map licenses its live mapping service to Nissan for use on its customer portal and has a partnership with Go Ultra Low, the government and car industry backed campaign designed to encourage EV-adoption.

In the year to December 31, Zap-Map made an operational loss of £60,000 on revenues of £210,000.

Good Energy founder and chief executive officer Juliet Davenport said: “The way we view energy is changing. Environmental challenge and digital opportunity are converging; intelligent power sharing is replacing conventional power supply.

“Localised generation, localised storage and localised sharing too. EVs make power so much more tangible, and the rapid rise of incredibly useful apps like Zap-Map make the management of it so much simpler - at home, at work, or on the go.

“The deal will help fund and accelerate Zap-Map’s product development as it realises the full potential of its digital EV charging services. The two South West England teams will collaborate on broader applications for the proprietary platform, while seeking to maintain the exponential growth of its EV user base.”

Zap-Map co-founder Melanie Shufflebotham added: Good Energy and Juliet share the understanding that the growth of EVs requires an entirely new mindset: a localised point-by-point power network and the ability to easily share or pay for electricity on a charge-by-charge basis.

“As Good Energy leads in genuinely renewable energy supply, Zap-Map has the UK’s largest EV online community. Together we can lead in the emerging energy sharing economy in which homes, businesses and EV owners will trade and exchange power using the energy grids of the not too distant future.”

Next Green Car was set up in 2007 to launch nextgreencar.com as the UK’s No.1 green car website with a mission to help car buyers find, compare and buy a greener, more economical car.

Pictured, from left: Zap-Map director and co-owner Ben Lane, Good Energy founder and chief executive officer Juliet Davenport, and Zap-Map co-founder Melanie Shufflebotham

 

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