Leading the charge: Instavolt announces major investment in Iceland’s emerging EV infrastructure

Iceland has just gained its largest rapid electric vehicle charging hub to date as part of Instavolt’s first foray into an overseas market.

The team recently headed out from their headquarters in Basingstoke to the Courtyard by Marriott hotel at Reykjavik Keflavik Airport, where they celebrated the launch of 20 new charging stations.

They will each be powered by 100 per cent renewable energy from Instavolt’s energy partner HS Orka, which has operated geothermal plants in Iceland for the past four decades.

Adrian Pike, who serves as chairman on both boards, said: “I am so proud of what Instavolt and HS Orka have achieved here.

“The excellent management teams of both companies have created this opportunity to help develop Iceland’s EV rapid charging infrastructure.

“The deal represents a significant investment by Instavolt and has created a unique partnership where 100% renewable energy will be powering Iceland’s electric vehicles.

“We look forward to continuing our roll-out of rapid chargers across the country.”

Indeed, this is only the start for Instavolt, whose executives have big ambitions for another 200 installations across the land of ice and fire over the next two years.

It’s a natural fit for a number of reasons.

With Iceland sharing the UK’s commitment to reach Net Zero carbon by 2040, the country is investing heavily in its EV infrastructure, which forms a key part of its environmental policy.

Figures from 2022 show that electric vehicles boast a 60 per cent market share in Iceland, while around 14 per cent of the passenger car fleet is already electrified.

This is hardly surprising, as the country’s relatively short driving distances and surplus of affordable, renewable energy mean that the decision to switch is almost a no-brainer.

Gudlaugur Thór Thórdarson, Minister of the Environment, Energy and Climate, explained: “Iceland has been successful in its energy transition for road transport and is in second place after Norway with regard to the purchase rate of electric and plug-in hybrid vehicles.

“However, for Iceland to reach the government’s plan for full energy transition by 2040, we need to accelerate our energy transition.

“An increasing number of EV chargers should make it easier for us to meet our sustainability targets.”

And with Instavolt planning many more Icelandic charging stations in the future, it could be a Hampshire business at the forefront of this movement.