Good Energy announced a £1.8m strategic investment in Zap-Map parent company Next Green Car.
Good Energy has committed an initial investment rising to a maximum of £1.8m through its parent company structure.
Next Green Car operates Zap-Map, providing mapping and data services for electric vehicle drivers in the UK.
Good Energy has announced a strategic investment of £1.8m in Next Green Car, the parent company of electric vehicle mapping platform Zap-Map. The transaction involves an initial cash consideration and convertible loan notes, with the opportunity for Good Energy to increase its stake based on operational and financial milestones over the next two years. The funding will support the acceleration of Zap-Map's product development and digital services.
The deal aligns the two companies around a shared vision for localised power sharing and electric vehicle adoption in the UK. Zap-Map currently serves a large community of monthly users across thousands of charging devices nationwide, while Good Energy focuses on renewable energy and distributed power systems.
From the founder
"Good Energy and Juliet share the understanding that the growth of EVs requires an entirely new mindset: a localised point-by-point power network and the ability to easily share or pay for electricity on a charge-by-charge basis. As Good Energy leads in genuinely renewable energy supply, Zap-Map has the UK’s largest EV online community. Together we can lead in the emerging energy sharing economy in which homes, businesses and EV owners will trade and exchange power using the energy grids of the not too distant future."
Melanie Shufflebotham
co-founder at Next Green Car
Use of funds
- 01Continue product development
Investors
About the company
Next Green Car
Next Green Car operates the Zap-Map application for electric vehicle drivers.