InstaVolt named as the UK’s fastest growing company 2024

The UK’s leading EV fast charging network, InstaVolt, secured top position in the ORESA Growth Index 2024 Top 100. The Hampshire-based organisation secured the prestigious title thanks to a compound annual growth rate of 362.55 percent.

Now in its third year, the ORESA Growth Index is recognised as the definitive ranking of UK companies experiencing rapid sales expansion. It celebrates organisations that have achieved remarkable growth and the inspired leadership behind those businesses.

Companies are ranked by compound annual growth rate (CAGR) in sales from the previous two financial accounting years (including filings up to February 2024). The ranking recognises rapid growth across all industries and shines a spotlight on the most successful sectors and companies in the UK.

As the largest owner and operator of rapid public chargers in the UK, InstaVolt boasts 1,500 strategically located chargers across the country, commanding approximately 15 percent of the market. Its revenue soared to £18.6 million in the 2022-2023 financial year, representing a more than 20-fold increase since 2020-2021.

The growth of InstaVolt received a significant boost in early 2022 when it was acquired by EQT Partners, one of the largest global private equity firms. InstaVolt aims to build on its recent successes with an ambitious growth plan to install 11,000 ultra-rapid chargers in the UK and Ireland, 5,000 in Spain and Portugal, and over 300 in Iceland, setting the standard for reliable and contactless EV charging worldwide.

InstaVolt CEO Adrian Keen, who recently announced he was stepping down after more than seven years at the helm, said: “We believe people will buy electric cars, but they won’t if the infrastructure isn’t there. It was an opportunity to professionalise the public charging experience and give people the confidence to make the change.”

“We’ve got a pipeline of thousands and partnerships with big brands that can keep us busy for years, but we’re only just getting started. There are huge segments that haven’t been explored yet, and places where we’d love to work. It’s really exciting. Everywhere you stop your car is an opportunity to charge.”