Liberty Global Ventures, Zouk Capital Form UK JV For Electric Vehicle Charging

(RTTNews) - Liberty Global plc (LBTYA, LBTYB and LBTYK) announced Wednesday that Liberty Global Ventures and Zouk Capital, a sustainable infrastructure and growth technology fund manager, formed a 50:50 joint venture partnership. The JV, Liberty Charge, will roll out on-street residential electric vehicle charging points in the UK.

Zouk is the manager of the Charging Infrastructure Investment Fund or CIIF, established by the UK Government in 2019 to help develop public charging infrastructure points for electric vehicles throughout the country.

The 50:50 joint venture was originally set up as a small incubation initiative within Liberty Global Ventures last year. It will now focus on providing the under-the-pavement power and communications infrastructure necessary for electric vehicle charging in residential areas.

The partnership supports Liberty Global's efforts in this space following on from its Virgin Media Park and Charge or VPACH project, which aims to deploy 1,200 charging sockets in towns and cities across the country by early 2021.

Neil Isaacson, who has been leading Liberty Charge's market development activities, has been appointed CEO of the venture.