With InfraRed’s investment, JOLT will be able to deploy thousands of ultra-fast chargers in metropolitan areas, with up to 320 kW output – enough to fully charge an electric car within 20 minutes. Expanding the company’s reach with these innovative chargers will facilitate growth in the number of electric vehicles on the road, and support the transition to a lower carbon future for transportation. The decarbonisation of both transportation and heating are key elements of a low carbon future and are investment opportunities of key interest to InfraRed.
Stephane Kofman, Partner, Head of Capital Gain Funds at InfraRed, said: “Investing in rapid electric vehicle charging infrastructure aligns with our approach to supporting a low carbon future. This investment also supports progress towards our target of having 50% of InfraRed’s AUM invested in climate solutions by 2025.
“With an established pedigree in investing in renewables and batteries, the Jolt acquisition represents an evolution for InfraRed in terms of investments enabling the energy transition, in a favourable sector with attractive growth potential.
“The expansion of ultra-fast charging stations will facilitate the widespread adoption of electric vehicles, and we are proud to partner with JOLT to play our part in the decarbonisation of transportation.”
The widespread adoption of electric vehicles hinges on the availability of a considerable number of ultra-fast charging stations, particularly in dense urban areas. JOLT’s first stations are already in operation in Germany, with 100 more to follow over the next few months.
About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital1 for investors around the globe, in listed and private funds across both income and capital gain strategies.
A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating2 for its infrastructure business for seven consecutive assessments, having secured a 5 star rating for the 2021 period. It is also a member of the Net Zero Asset Manager’s Initiative and is a TCFD supporter.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BentallGreenOak, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.
1 Data as at Q3 2022. Equity Capital is calculated using a 5-year average FX rate
2 Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at https://www.unpri.org/about-the-pri