Revolutionizing Public EV Charging in Jersey: The Collaborative Endeavor of Virta and Jersey Elect

Virta entered into an agreement with Jersey Electricity (JE) at the end of 2022 with operations commencing at the beginning of 2023. The initiative entails a comprehensive modernization of Jersey’s public EV charging infrastructure.

Jersey’s public charging network, known as Evolve, is owned and provided by JE. The partnership with Virta enables JE to leverage ever-improving software and solution capabilities, and affords JE the opportunity to develop innovative solutions for customers.

The physical charging points are being upgraded as a part of the infrastructure investment. For EV drivers, this will mean a smoother and more convenient charging experience, as well as the opportunity to use a single application both in the Island as well as anywhere in the Virta European and UK-wide network. Across the Virta network, and with roaming agreements included, this will mean over 90,000 chargers across Europe.

Virta is providing a complete turnkey solution and supplying JE with charger management, electric vehicle supply equipment (EVSE), and a full scope of payment solutions covering the Island’s public EV charging network. Although the Island is only 9 by 5 miles in size with a population of just over 100,000, there are about 130,000 vehicles in Jersey. With the increasing adoption of EVs comes the demand for fast, reliable, and convenient charging, which were the main reasons JE chose Virta.

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Virta closes €85M growth funding to increase EVs’ charging platforms impact on accelerate growth in Europe and Asia-Pacific

Finland-based Virta Ltd, a global leader in the fast-growing Electric Vehicle charging platforms industry(1), has secured new €85M growth funding. The funding round has been among the biggest in the sector in recent years.

The sum consists of €65M equity investment from Virta’s existing investors, led by the private equity firm Jolt Capital, and co-invested by Future Energy Ventures backed by E.ON., Helen Ventures, Vertex Growth Fund, Finnish Industry Investment, Lahti Energy, Vantaa Energy, and Kotka Energy. Twenty million euros will be received from Business Finland, which offers innovation funding for companies and research organizations.

Over 1 000 professional EV charging businesses in 35 countries run their EV charging services on the Virta platform. Together, these charging network operators constitute one of the biggest public networks in Europe. Including roaming, the network enables EV drivers with access to over 350 000 charging points.

Virta and EV charging industry are heading to the era of green hypergrowth

Virta’s growth has continuously surpassed the industry average, and in 2022, Virta Group’s annual revenue grew 112% to €39M (preliminary figures). As a result, Virta was ranked on the Financial Times 1000 Europe’s Fastest Growing Companies list for the fourth time in a row in 2023. With the fresh funding, Virta aims to grow its charging transactions by more than fivefold in Europe and the Asia-Pacific region by 2025.
(1) Estimated number of charging points in Europe in 2025 compared to 2021 +475% from 0,4 million to 2,3 million and 7,9 million in 2030. Sources: ACEA, ICCT, IEA, BNEF, DNV 2030 estimates.

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