JET Charge Series A includes $3.5M from CEFC to improve EV charging infrastructure in Australia

JET Charge is leading the way in EV charging infrastructure in Australia. The company offers a range of EV products and services, including domestic and commercial charging installations.

JET Charge works with homeowners, property developers, councils and local Governments, even vehicle manufacturers, all in an effort to bring more charging options to more people. They’ve also moved into the Vehicle-to-grid space which has massive potential to transform our energy grid.

With the sales of EVs in Australia being heavily dependent on the charging infrastructure, JET Charge’s growth potential has been recognised as they announce a Series A capital raise, which included a $3.5 million investment from the Clean Energy Finance Corporation. 

CEFC are funded by the Government and are responsible for managing more than A$10 billion in clean energy projects. While the Government is often criticised for not investing in renewables, it’s projects like this, that show there’s actually some good work being done.

JET Charge says it will deploy the new money to deploy smart charging hardware under a services-based model, in an effort to drive down the cost of smart and connected EV charging stations and make them more user friendly for drivers. 

“JET Charge has always believed in supporting mass EV uptake through making charging easy. To date, we’ve tried to make sure that anybody who wants to charge their EV, can.  However, we need a step change in how we think about EV charging infrastructure if we want mass EV adoption.

The biggest long-term barrier to EV uptake won’t be model availability, price, or battery life.  It will be the ability to cost effectively, intelligently and safely integrate those EVs into national electricity grids, to maximise the use of renewables while ensuring EVs support a stronger electricity grid.”

JET Charge co-founder and CEO, Tim Washington

The $3.5 million CEFC equity investment, through the Clean Energy Innovation Fund, is part of the company’s latest capital raising round, of $4.5 million, which also drew co-investment from industry executives and private investors.

“Innovative solutions such as those being led by JET Charge are at the heart of our clean energy transition. The more we transition our economy to low emissions solutions, the more we see innovative and new thinking accelerating even more change.

With more Australians putting solar PV on our rooftops and with an increasingly cleaner electricity system, we can power our electric vehicles with clean energy made even more efficient with smart charging infrastructure such as that created by JET Charge.”

CEFC CEO Ian Learmonth

Mr Washington said the deployment of JET Charge smart charging technology is an important first step in ensuring that EV charging occurs when the electricity grid is best able to support it. 

In addition, it has the potential to allow the matching of EV charging to times when renewable power penetration into the grid is at its highest, promoting the use of clean power for EV charging.

 “In conjunction with our globally leading energy management systems, our goal is to facilitate compatible EVs in becoming an asset for the grid, with the future capacity to discharge electricity to homes, buildings and the wider grid when demand is high, and financially reward EV drivers for doing so.

We believe that through a combination of smart charging, demand response, ancillary grid services and vehicle to grid technology, we can make EV charging effectively free for Australian EV drivers within five years.  That is our goal. We think that if we can make charging free, then the path to 100 per cent lower emissions transport will be shorter.”

JET Charge co-founder and CEO, Tim Washington

JET Charge sees that there is a role for Australian companies in leading a generational change in the automotive landscape.

“Despite our slow uptake of EVs, Australia can still be a global leader in charging infrastructure integration, by showing the world how to balance our EV fuelling needs with renewables, stationary storage and an ever-changing electricity grid.

EVs are here to stay, and the question for us as a country is whether we want to lead some part of that revolution, or if we just want to sit back and watch.  With our passionate team and the support of our investors, advisors and friends, JET Charge is determined to play a part in leading this transition.” 

JET Charge co-founder and CEO, Tim Washington

More at CEFC.

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Jason Cartwright
Jason Cartwright
Creator of techAU, Jason has spent the dozen+ years covering technology in Australia and around the world. Bringing a background in multimedia and passion for technology to the job, Cartwright delivers detailed product reviews, event coverage and industry news on a daily basis. Disclaimer: Tesla Shareholder from 20/01/2021

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