Accelerating and streamlining the financing of EV-Charging infrastructure
Munich (Germany), September 15th, 2021 – Responding to a global shortage of EV charging infrastructure and in line with its target to bring ultra-fast charging to urban communities; JOLT has launched its ChargeMyCity (ChargeMyCity.com) campaign, to deploy 500 chargers in 500 days. Both private and professional investors will have the opportunity to participate in the campaign by investing in Merlin Bonds. Starting at €100 and paying a fixed annual interest rate of 5-6%, Merlin Bond proceeds will be used to purchase and install chargers in selected communities. Ultra-fast chargers can fully charge an EV in 15-30 minutes. Merlin Bonds are approved by the German Financial Services Authority (BaFin) and professionally managed by EuEco.
JOLT will start the campaign immediately in Munich (ChargeMunich.com) and then roll it out to other communities throughout Germany, Europe and the United States. “By internalizing our funding activities for ultra-fast chargers, we will accelerate the investment program, while allowing our end customers to invest directly in something they need and will use”, says Marcus Jentsch, CFO of JOLT. JOLT will also launch an affiliate program in the next few weeks, allowing local individuals and communities to start their own fund-raising activities to get ultra-fast charging in their neighborhoods.
Commercial and institutional investors can also invest with JOLT. They will have the opportunity to participate in investment vehicles, which will develop charging infrastructure with commercial site owners (i.e. office buildings, restaurants, supermarkets or gas stations) or even municipalities.
JOLT will directly operate all ultra-fast chargers within the network.
Jolt Energy Group is a Dublin, Munich and Boston based group founded in 2017 by a team of former automotive and power engineering managers with the aim of breaking the traditional conventions of urban charging. JOLT’s mission is to build a network of high-performance chargers in large cities over the next ten years. JOLT uses advanced mobile charging stations with integrated batteries to supplement the weaknesses of the existing electricity grid. In some cases, this means running charging stations like mobile phone battery packs on city streets and swapping them with freshly charged units when they are empty.
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