Jolt, an Australian-founded EV charging network, has secured a $194 million loan from the Canada Infrastructure Bank (CIB). The funding will support the installation of up to 1,500 curbside EV chargers in urban centers across Canada.
Jolt’s charging network aims to provide fast and free charging solutions for EV drivers who may not have access to home charging. Each Jolt charger will offer 7 kWh of free charging per vehicle per day, translating to approximately 50 km of driving range. The company estimates that this initiative could save EV owners up to $1,100 per year in charging costs.
The company currently operates two charging stations in Canada, both located in the Greater Toronto Area, with speeds ranging from 25 kW to 50 kW. This expansion, supported by the CIB loan, is a significant step toward Jolt’s original goal of deploying 5,000 chargers nationwide in partnership with Telus.
Jolt differentiates itself from other charging networks by integrating digital out-of-home (DOOH) advertising with its charging stations. Each charger doubles as a premium advertising screen, creating an additional revenue stream that helps offset the cost of free charging. This model has already attracted major advertisers such as Volkswagen, Audi, and the Ontario government.
The CIB has been a key player in expanding public EV charging access across Canada, having invested $650 million to date through its Charging and Hydrogen Refuelling Infrastructure Initiative (CHRI). This funding has facilitated the deployment of approximately 5,500 public charging ports.
Through the CHRI, the CIB provides financial support to private companies like Jolt to accelerate the construction of zero-emission vehicle infrastructure. Jolt is required to maintain a 97% charger uptime rate, with financial penalties for failing to meet this standard.
