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LONDON - Good Energy Group PLC (AIM: GOOD), a UK-based renewable electricity supplier, has announced a further investment of £1.85 million into Zapmap Limited, a digital platform for electric vehicle (EV) drivers. This investment, announced on January 31, 2025, is an extension of a secured convertible loan note from June 2024 and brings Good Energy’s total funding to Zapmap to approximately £9.35 million since 2019.
The renewable energy company, which currently holds a 49.9% share in Zapmap, plans to draw the additional funding in four tranches over the course of 2025. The loan will accrue interest at an annual rate of 12%. Under the terms of the loan, Good Energy has the option to convert the entire amount into equity at a significant discount in the event of a sale of Zapmap, future funding rounds, or after January 31, 2027.
Good Energy’s investment is aimed at supporting Zapmap’s growth and development. Zapmap serves as a crucial tool for EV drivers, providing a map of charging points and other valuable services. The strategic infusion of capital is expected to further enhance Zapmap’s offerings and expand its user base.
The latest investment by Good Energy has been sourced from its existing cash reserves. As a company that supplies 100% renewable power and innovates in energy services, Good Energy has been a proponent of clean energy solutions and is committed to supporting a million homes and businesses in reducing their carbon footprint from energy and transport by 2025.
Good Energy’s mission aligns with the broader shift towards sustainable energy and transportation. The company’s investment in Zapmap underscores its commitment to advancing the infrastructure required for a growing EV market and reflects its strategic focus on enabling cleaner transportation options.
This financial move is part of Good Energy’s ongoing efforts to contribute to a cleaner, greener world, and it highlights the company’s role as a stakeholder in the transition to a distributed energy system. The investment is based on a press release statement from Good Energy Group PLC.
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