JOLT to build 5,000 electric vehicle charging stations around Australia

US investment firm BlackRock has injected more than $100 million into Aussie electric vehicle charging company JOLT, with plans to install 5,000 fast-charging stations across Australia.

The huge cash injection will help boost JOLT’s electric vehicle (EV) expansion that will see it roll out key EV infrastructure like street-side charging kiosks over the next decade.

JOLT currently gives EV owners 24/7 access to standard and fast-charging stations, offering 7 kilowatt hours (kWh) of electricity for free – the equivalent of driving around 45 kilometres.

In its own words, JOLT ‘aims to solve the major barriers to EV ownership in Australia including access to charging and cost, as well as range anxiety.’

Australia’s road transition from fuel to electric requires funding and investment from a range of stakeholders before this mode of transport really takes off among consumers, JOLT CEO and Founder Doug McNamee explained.

“Institutional capital will play a critical role in developing the infrastructure that will galvanise and accelerate EV uptake in Australia,” he said. “We’re thrilled to have secured support from BlackRock Real Assets who recognises our vision to help transform the future of transport through electrification.

“Australia has a critical role to play in advancing towards a net zero emissions future. We’re excited to be leading the way forward by building the vital infrastructure needed to power our roads, address range anxiety and help get more Australians behind the wheel of an EV.”

JOLT EV fast charger

JOLT EV fast charger

This is the first investment in the EV charging sector made by BlackRock in the Asia Pacific (APAC) region as part of its renewable energy strategy, which views Australia as the next EV frontier, Managing Director of BlackRock Renewable Power Charlie Reid said.

“The EV charging industry in APAC has tremendous near and long-term growth potential, which creates exciting investment opportunities for BlackRock’s clients,” he said.

“We believe the electrification of transport plays a pivotal role in advancing Australia’s energy transition and we look forward to harnessing this through our investment in JOLT.”

This deal will make JOLT the largest EV charging provider in Australia, which currently has car chargers operating in Adelaide. JOLT has also struck a deal with New South Wales power distributor Ausgrid in a world-first program to convert existing street-side kiosks into state-of-the-art EV charging stations.

It comes after more than 400 new fast-charging EV stations are set to roll out across the National Highway under the government’s Future Fuels Fund initiative.

AGL EV Plan

Click on your state below to see what electricity prices are on offer from AGL for EV owners.

Here is AGL’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is AGL’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is AGL’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is AGL’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Red Energy EV Plan

See what electricity plans Red Energy has to offer EV owners by clicking on your state.

Here is Red Energy’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is Red Energy’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is Red Energy’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is Red Energy’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000 kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Image credits: BigPixel Photo/Shutterstock.com, Blue Chip Communication

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