Jolt, an Australian EV charger manufacturer that offers drivers free, advertiser-supported charging, and the Canada Infrastructure Bank, a federal Crown Corporation of Canada that is charged with financially supporting revenue-generating infrastructure projects, have announced a C$194-million loan agreement that will support the expansion of Jolt’s charging network.
The loan will pay for the installation of up to 1,500 new curbside EV chargers in urban areas.
The CIB said that it is providing the funding “to alleviate consumer range anxiety, accelerate EV adoption and significantly reduce transportation sector emissions.” It added that this project is its fourth investment under the government’s Charging and Hydrogen Refueling Infrastructure Initiative and its third in EV charging infrastructure.
Drivers can receive 7 kWh of free fast charging per day through the program, the cost of which is offset through Jolt’s integrated digital out-of-home (DOOH) advertising at each charging location. A driver can then opt to continue charging at what Jolt says will be an affordable rate. The company has already signed multiple advertisers including Volkswagen, Audi and the Government of Ontario. Jolt has begun to roll out its DOOH network and EV chargers across the Greater Toronto Area.
“By investing in expanding EV charging infrastructure, we are supporting Canadians’ need for accessible and convenient charging points in urban centers,” said Ehren Cory, CEO of Canada Infrastructure Bank. “Our strategic partnership with Jolt highlights a commitment to supporting the deployment of innovative technology which will create jobs and remove a potential barrier to EV adoption.”
Digital out-of-home advertising uses digital displays to deliver ads to consumers in high-traffic public spaces such as shopping malls, bus stops, airports and parking lots.
Source: Jolt