Novuna funds evyve with £15m to accelerate EV charger rollout

Novuna Business Finance has provided a £15 million development finance facility to evyve, the electric vehicle charging network owner and operator, to speed up the installation of 1,000 DC and ultra-rapid chargers across the UK by 2028.

The new funding comes as demand for high-speed charging infrastructure continues to rise, with more than 380,000 electric vehicles sold in the UK last year. Evyve, which focuses on deploying reliable, high-speed chargers at retail and leisure destinations, business parks and restaurants, said the investment represents a major milestone in its growth strategy.

The UK is targeting 300,000 public charge points by 2030, though only around 87,000 are currently in place. The partnership between Novuna Business Finance and evyve aims to help close that gap by accelerating charger rollout and improving access for EV drivers nationwide. Novuna said the deal underscores its commitment to supporting green infrastructure and financing sustainable transport projects.

James Moat, CEO of evyve, said securing the £15m facility reflects strong confidence in the company’s approach. “Securing this £15m facility in today’s investment climate is a testament to the credibility, performance, and resilience of our business. We’re building a charging network that drivers can depend on — fast, reliable and easy to use — and this partnership with Novuna Business Finance allows us to accelerate that mission across the Greene King estate and beyond.”

Philippe Bazin, Head of Sustainable Energy at Novuna Business Finance, said the partnership aligns with the company’s long-term sustainability objectives.

“We are pleased to announce this finance package for evyve, as it reflects our shared commitment to accelerating the UK’s transition to sustainable transport. evyve’s focus on delivering high-quality, user-centric charging experiences aligns perfectly with the Novuna Business Finance ambition to finance infrastructure that drives real-world impact. We’re proud to support evyve as they scale their network and bring reliable, rapid charging to communities across the country.”