BGF, Scottish National Investment Bank inject money to grow Trojan Energy

Trojan Energy is an on-street electric vehicle charging company.

  • BGF will invest £8m and an £18m follow-on investment by Scottish National Investment Bank
  • Trojan Energy is based in Aberdeen, Scotland
  • BGF is a growth capital investor

BGF and Scottish National Investment Bank have made a £26 million ($33 million; €30 million) investment in Trojan Energy, an on-street electric vehicle charging company, to facilitate its growth plans.

The funding round comprises of £8 million from BGF alongside an £18 million follow-on investment by Scottish National Investment Bank.

Aberdeen, Scotland-based Trojan Energy’s headcount now stands at 68.

The investment will support the continued rollout of Trojan Energy chargers across the UK, according to a release. The company recently partnered with Barnet council to install around 1,300 on-street charge points and there is a strong pipeline of new opportunities across the UK, including in England as part of the Local Electric Vehicle Infrastructure fund, the release said.

“It’s great to be supporting Trojan Energy’s growth journey as they continue to roll out chargers and make the electric vehicle transition accessible for the millions of households without a driveway,” said Keith Barclay, investor at BGF. “The business has developed a high-quality product and the ‘clutter free’ element is a key differentiator.”

Existing Investors include Scottish Enterprise, Equity Gap, Alba Equity and Social Investment Scotland.

BGF is a growth capital investor in the UK and Ireland. The firm is based in London.

Scottish National Investment Bank is Scotland’s first development investment bank.

Advisors on the deal include EY, CMS, Addleshaw Goddard, Shepherd and Wedderburn, WJM, PwC Strategy&, BDO, Jon Addis Consulting, RSC Associates, Apex Consulting and HR Insights.