New Zealand’s electric vehicle charging network is getting a boost with New Zealand Green Investment Finance’s $1m
investment in EV charger and network management company Thundergrid.
Thundergrid specialises in supplying EV charging stations and managing charging networks for major corporates and
government organisations. By installing smart EV charging technology that adjusts power use around existing loads,
Thundergrid can ease the load on the energy grid and enable vehicles to run on electricity instead of fossil fuels.
NZGIF’s $1m debt facility will enable Thundergrid to accelerate its rollout of EV charging infrastructure, and develop
other services to help its customers. This includes the ability to schedule charging to take place during off-peak
times, making charging cheaper and more effectively distributing load on the national grid.
NZGIF Chief Investment Officer Jason Patrick says the investment is an important step in encouraging more Kiwis to
consider switching to EVs.
"One of the most common reservations people have about EVs is whether they’ll have problems finding a place to charge
their car.
"That’s why building an EV charging network is so critical to helping decarbonise New Zealand’s transport sector, and
Thundergrid is playing an important part in this.
"It makes perfect sense to invest in the roll-out of charging stations for corporates and government agencies, given the
size of their fleets. Offering EV charging stations is not only a valuable service for their employees, but it also
helps the rest of the community by making it easier for people to make the switch away from petrol or diesel."
Thundergrid CEO Jonny Parker says the company’s strategy is focused primarily on these government and corporate markets,
as well as looking to service public facilities and residential customers.
"There’s huge demand for reliable EV charging options at the moment. Government agencies are under pressure to fully
electrify their fleets by 2025, while corporates see EVs as a way of lowering transport costs and improving their
long-term sustainability.
"But you need to have the charging options to sustain those fleets, as well as the back-end technology to help manage
energy demand on buildings. That’s where Thundergrid comes in. Our aim is to support clients on their electrification
journey by doing as much of the heavy lifting as possible.
"We’ve been growing rapidly and that growth is only going to accelerate over the next few years as we look to meet this
demand.
"That’s why the facility from NZGIF is so important - it allows us to grow significantly faster than would otherwise be
the case, and, in turn, do a whole lot more to help decarbonise our economy."