Electric vehicle charging firm Believ bags £300 million and targets UK retail and hospitality venues

Believ, a UK-based electric vehicle charge point operator, has secured a £300 million investment facility to install 30,000 new public EV charge points across the UK. 

The company says that retail and hospitality venues are ideal locations for this push, offering drivers the convenience of shopping or dining out while charging their vehicles.

Increased chargers in these locations will provide economic benefits for local businesses and will be influential in encouraging drivers to make the switch to EVs, it claims. Believ will be partnering on this initiative with both public and private sector organisations.

Guy Bartlett, Believ CEO, says: “This recognises the scale of investment required and the urgency of the need. Confidence in EVs will continue to grow as drivers see more infrastructure going into the ground. We are very proud to be at the heart of this journey.” 

The funding is led by Believ’s joint owners Liberty Global and Zouk Capital, alongside four retail and infrastructure financing banks - Santander, ABN Amro, NatWest and MUFG. 

Jonathan Pearson, Chairman, Believ and CFO, Liberty Growth at Liberty Global, comments: “The funding demonstrates the potential of partnering with the public sector in the UK to create the critical EV charging infrastructure required for a greener future. With Virgin Media O2 onboard as a delivery partner and leveraging Liberty Global’s financing expertise, we look forward to Believ rolling out much needed EV charge points throughout the UK.” 

“This landmark investment is a major moment - not just for Believ, but for the UK’s electric future,” says Massimo Resta, Partner at Zouk Capital. “The EV market is at an inflection point. EV penetration is expected to accelerate driven by the arrival of new mass market vehicles at attractive price points.”

“The EV charging roll-out required to support the transition needs long-term private investment with strong partners. With this level of funding, Believ has the commercial strength, operational expertise, and local insight to deliver what communities and landowners need - on street, town centre, destination, and on-route charging - at real scale and pace.”

“We are very excited about the opportunity in front of us and are proud to support Believ as it helps build the infrastructure backbone of a net zero Britain. Zouk Capital is the manager of the UK government anchored Charging Infrastructure Investment Fund (CIIF). With seven successful EV investments to date, Zouk is the leading private equity investor in the European EV charging space.”

The government has pledged £2.3 bilion to help industry and drivers make a supported switch to EVs, with a £200 million budget to expand public charging and a dedicated Local Electric Vehicle Infrastructure (LEVI) Fund of £381 mllion for local authorities in England.

Lilian Greenwood MP, Minister for the Future of Roads at the Department of Transport, says: “We’re working hard to ensure all drivers can charge easily and conveniently - no matter where they are. Believ’s investment is a brilliant vote of confidence in the transition to electric and another fantastic example of government and industry working together to roll out tens of thousands of chargepoints across the country.” 

“We’re delivering our Plan for Change by investing over £2.3 bilion to help industry and consumers make a supported switch to EVs, alongside securing international trade deals and backing British carmakers to drive investment, protect jobs and put money in the pockets of working people.” 

2025 RTIH INNOVATION AWARDS

Green retail will be a key focus area at the 2025 RTIH Innovation Awards.

The awards, which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.