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192%
Raised
£480,130
Investors
902
Target
£250,000
Equity
13.80%
Pre-money valuation
£3,000,000

Urban Electric's mission is to create the UK's largest urban electric vehicle charging network. Our unique 'pop-up' charging hubs retract fully underground when not in use, minimising the impact on the streetscape so they can be conveniently located right in the street where you live.

  • An estimated gap in the market for millions without off-street parking
  • Introducing the UEone 'pop-up' charge point
  • Working with Oxford, and MoUs with Dundee & Plymouth City councils
  • Significant backing from 'Innovate UK' (subject to this raise)

Idea

The UEone 'pop-up' charge point
The UEone 'pop-up' charge point
“Has the potential to be rolled out across the whole UK” Ian Meikle, Director Clean Growth and Infrastructure, Innovate UK
“Has the potential to be rolled out across the whole UK” Ian Meikle, Director Clean Growth and Infrastructure, Innovate UK
UEone 'pop-up' charging hubs retract when not in use to minimise the impact on the urban streetscape
UEone 'pop-up' charging hubs retract when not in use to minimise the impact on the urban streetscape

The opportunity:

There is an unsolved barrier to electric vehicle (EV) adoption: 87% of EV charging in the UK is done off-street at home (garages and drives). It is convenient and allows you to start the day with a full charge. However, 43% of UK households do not have off-street parking, acting as a major barrier to EV adoption today.

With 11 million EVs on UK roads by 2030, everyone who switches to EVs without off-street parking will need to charge and that's where we come in.

How we're addressing the opportunity:

- The 'UEone' charge point is a new type of EV charging architecture, retracting fully underground when not in use to minimise the impact on the urban streetscape

- This means UEone's can be conveniently located right in the street where you live

- For dependability, we will install up to 6 UEone's at a time as 'pop-up' charging hubs

- We will monetise by electricity used to charge EVs and/or sales of UEone charge points.

Story so far:

- Founded in 2017

- Summer 2018 secured 'Innovate UK' backing for a £600K project to develop and install the world's first 'pop-up' charging hub in partnership with Oxford City

- Summer 2019 secured 'Innovate UK' backing as part of a £3.8m project to further develop and install up to 18 'pop-up' charging hubs in Dundee and Plymouth although this project is conditional on us securing your support!

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Risk warning

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Urban Electric has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.