Clean energy company Good Energy has announced that it will be increasing its share in Zap-Map, the UK’s market leading electric vehicle (EV) charging app which now has more than 100,000 registered users.
Good Energy announced a 12.9% share in Zap-Map’s parent company Next Green Car in March 2019, with the option to increase to a majority stake within the next two years. It has now exercised the option to increase its stake, taking a 50.1% share.
Melanie Shufflebotham, Co-founder of Zap-Map, added: “Our relationship with Good Energy has been a vital strategic partnership in what has been a key period in the development of Zap-Map, and will continue to be as we look to launch of number of innovative products.
“Electric vehicles are taking record market share, but we remain at a critical inflection point as Government and businesses look to provide the products and services for drivers to encourage adoption of EVs. This investment ensures that we will remain at the forefront of the EV market delivering products to make charging simple for both drivers and businesses.”
Juliet Davenport, Founder and Chief Executive Officer of Good Energy, said: “The opportunity for Zap-Map to play an important role in the green economic recovery is obvious. With electric vehicles playing a key role in the future government strategy, and commitments to phase out petrol and diesel new vehicle by 2030, Zap-Map is perfectly placed to take advantage of future growth in the EV marketplace.
“For Good Energy, the strategic investment brings synergies across our new propositions including One Point, our business EV proposition and One Home our strategic development for householders. We are really excited take the next step in supporting Zap-Map on its strategic journey.”
Over the coming months, Good Energy will be working closely with Zap-Map on the roll out of new products and services, including: Zap-Pay, a simple-to-use payment solution providing a single point of access to multiple public charging networks, more smart app functions and features for release later this year, and in-car functionality through partnerships with auto manufacturers.
Download official release (PDF): FINAL-Good-Energy-increases-stake-in-Zap-Map