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Good Energy Group PLC on Monday said its investee Zap-Map has raised money via Series A fundraising.
The £9 million fundraise is focused on clean power. Good Energy invested £3.7 million ‘to make it simple for people to generate, share, store, use and travel with clean power.’
Good Energy, a Chippenham, England-based renewable energy supplier, added the fundraise values electric vehicle charge point mapping service Zap-Map at £26.3 million.
Chief Executive Officer of Good Energy and Zap-Map Chair Nigel Pocklington described the investment as a ‘huge boost for Zap-Map's growth plans. There are over half a million EV drivers in the UK, with millions more switching to electric in the coming years. It is a race towards zero-emission transport and Zap-Map is placed right at the front of the field, where we plan to keep it.’
Following the transaction, Good Energy will have a 49.9% stake in Zap-Map. Fuel card and payment provider Fleetcor UK Acquisition Ltd, which invested £3.7 million as well, will have a 19.9% stake.
Good Energy shares were 4.8% higher at 249.40 pence each in London on Monday at midday.
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