Driven by the belief that travel shouldn’t damage the earth, Pod Point is pioneering electric mobility infrastructure by building a network of smart EV charging points that are easily accessible for drivers.
In partnership with Tesco and Volkswagen, hundreds of EV charge points are being supplied, operated and maintained by Pod Point at 600 Tesco stores. The new points will include 7kW media chargers with display advertising on a screen, from which customers can charge for free. Some sites will also have 50kW rapid chargers priced in line with market rates.
By supporting the transition towards the decarbonisation of transport, this lending from Triodos is firmly aligned to the bank’s mission to deliver positive environmental impact and address the climate emergency.
Talking about the sector, Philip Bazin, head of the environment team, said: “Given our focus on sustainable and responsible finance, it is fundamental to Triodos to support projects, such as charging infrastructure for electric vehicles, which help us transition to a low-carbon, clean future. The transport sector now has the highest greenhouse gas emissions of any industry in the UK, with passenger car road transport accounting for over 50% of these emissions.”
“We need the vision and capabilities of pioneering companies like Pod Point to deliver the change in our transport infrastructure that we need to see.”
Erik Fairbairn, Pod Point CEO and founder, added: “We are witnessing a pivotal moment for the UK’s rapidly expanding public charging network. Through our partnership with Tesco and Volkswagen we are rolling out smart, easy-to-use chargepoints at a scale that is going to accelerate EV adoption in ways we haven’t seen before and make it easier than ever for drivers to go electric.”
The Pod Point partnership with Tesco and Volkswagen, announced in 2018, effectively created a new, sponsorship-based business model for EV charging. The finance from Triodos is assisting with the rollout, alongside funding from Tesco and Volkswagen. Tesco itself has set a goal to increase its business-wide energy sourcing from 65% renewables in 2020 to 100% in 2030, as part of its commitment to reduce its carbon footprint.
Triodos has long been committed to financing renewable energy, with a total exposure of €2.25 billion at the end of 2018. This new lending facility is part of its ongoing strategy to broaden its financing focus from mainly renewable energy generation projects to supporting the transition towards 100% smart clean energy systems, the wider decarbonisation of our economy and protecting and enhancing our natural capital.
In the Netherlands, the bank has supported two green car leasing companies, Kyotolease and Strix Lease Service, which is owned by one of the largest lease companies in the country. And at Triodos’s award-winning new office in The Netherlands, the building has been designed with the transport sector’s transition in mind. One of the largest 'bi-directional' charging bays in the world has been constructed, with a large solar roof that allows 120 electric cars to not only charge their batteries, but for their batteries to also be used to store solar energy. The bank is investigating how the residents of Zeist and the surrounding area may also be able to use its electric shared cars.
About Pod Point
Pod Point was founded in 2009 by CEO and entrepreneur Erik Fairbairn. Driven by a belief that travel shouldn’t damage the earth, Pod Point has more than 69,000 charge points in the UK and Norway and is an official charge point supplier for major car brands in both countries.
Pod Point’s products range from smart domestic charge points to 150kW high power rapid chargers and load balancing systems. Along with consumers, it works with a broad range of organisations to offer workplace, residential and commercial charging solutions. Its customers include major retailers, hotels, restaurants and transport hubs.
Why we finance environmental infrastructure projects
Triodos Bank has a strategy to support the transition towards 100% smart clean energy systems, the wider decarbonisation of our economy and protecting and enhancing our natural capital. Read more about the strategy in this article from Itske Lulof, director of energy and climate at Triodos Bank.
Visit our environmental technology page to find out more.