Good Energy's Zapmap expands to mainland Europe

The AIM-traded firm said the expansion would enable electric vehicle (EV) drivers travelling to Europe to use Zapmap's app and desktop map to locate and filter charge points in France, Germany, Belgium, the Netherlands, and Luxembourg.

It said the newly introduced charge points in mainland Europe boasted a power rating of 60kW or higher and offered various payment options.

Zapmap would provide information on 15,000 charging locations in Europe, marking a 50% increase in its total number of charging locations and benefiting its existing 700,000 customers.

The board described the move as a vital milestone in Zapmap's growth strategy, aimed at serving nearly 20% of its users who travel abroad.

Over the last year, the number of people travelling to Europe in their EVs has increased by 28%.

Zapmap already offered its services on more than 95% of the UK's public charging points, with over 70% of them providing real-time availability data.

In 2023, the company saw a surge of over 50% in registered users.

Shortly, Zapmap was planning to introduce additional features, including EV route planning and charging payments for drivers in France, Germany, and Benelux, aligning with its comprehensive offerings for drivers in the UK and Ireland.

Furthermore, the company aimed to expand its network by adding more charge points and charging networks in additional European countries such as Spain, Switzerland, Austria, and Italy in 2024, consistent with the growth plans outlined during its series A fundraising in September last year.

"Zapmap has made significant progress over the last year as it continues to broaden and deepen its market presence in the UK and now across Europe," said Good Energy chief executive officer Nigel Pocklington.

"It continues to track with the rapidly growing electric vehicle market, which has expanded by 40% in the UK last year with the share of electric vehicles new car registrations increasing in almost all EU countries."

Nigel Pocklington said the announcement demonstrated the firm's commitment to addressing the increasing demand for more accessible electric vehicle charging.

"It also reinforces Good Energy's goal of becoming a one-stop company for all clean energy services, delivering on our objective to support one million homes and businesses cut carbon from their energy and transport use by 2025."

At 1400 GMT, shares in Good Energy Group were up 9.21% at 332p.

Reporting by Josh White for Sharecast.com.