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(Alliance News) - Good Energy Group PLC on Monday said its investee Zap-Map has raised money via Series A fundraising.
The GBP9 million fundraise is focused on clean power. Good Energy invested GBP3.7 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 GBP26.3 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 GBP3.7 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.
By Tom Budszus; tombudszus@alliancenews.com
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