Good Energy Group invests £1.8m into Zap-Map owner

A mobile app that's hoping to tap into the UK's electric vehicle market is about to finish fund raising £1.8 million

Green energy firm Good Energy Group has announced a strategic investment into Next Green Car, the parent company of Bristol-based app Zap-Map.

Good Energy will take an initial 12.9 per cent minority equity investment which will increase to 50.1 per cent, aligned with product and financial milestones, over the next two years.

The deal is for a total initial consideration of £1.08m, rising to a maximum of £1.8m.

Zap-Map is the go-to app for Britain's 200,000 electric vehicle drivers – planning routes, identifying charge points, checking their availability and sharing power.

Its 70,000 monthly users can choose from over 11,000 charging devices located across service stations, car parks, retail sites and private driveways from its app.

"The way we view energy is changing,” said Juliet Davenport, founder and CEO of Good Energy.

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