Chancellor announces £65 million for on-street charging firm

The Chancellor Rachel Reeves has announced a £65 million to increase on-street charging in her speech on economic growth.
Reeves said that the Government’s National Wealth Fund (NWF) will take a £55m equity stake in Connected Kerb, with another £10m in investment from Aviva Investors.
The funding will expand Connected Kerb's UK EV charging network towards 40,000 sockets - up from 9,000 as of the end of 2024.
This is one of the first announcements to come from the National Wealth Fund, which used to be the UK Infrastructure Bank.
NWF is also investing £28 million in Cornish Metals to provide the raw materials to be used in solar panels, wind turbines and electric vehicles, supporting growth and jobs in the South West of England.
Chris Pateman-Jones, CEO of Connected Kerb, said: "This investment combines Connected Kerb’s proven hardware and advanced software infrastructure with the financial resources of NWF and Aviva to deploy public charging at scale, to all corners of the UK.
"This is a game-changing investment that will give individuals and businesses the confidence to make the switch to driving electric, dramatically reducing carbon emissions and air pollution. We are delighted to have such high-profile investors who are deeply aligned with our sustainability and ethical goals.”