TORONTO – The Canada Infrastructure Bank (CIB) has recently secured a substantial agreement by committing a loan of $194 million to Jolt, an Australian company specializing in electric vehicle (EV) charging solutions. This financial backing aims to bolster Jolt's efforts in expanding its network of EV chargers within Canadian urban environments.

The CIB highlights that the loan is expected to facilitate the installation of up to 1,500 new curbside EV chargers. Jolt's charging stations are designed to offer users up to seven kilowatt-hours of free, fast charging per vehicle on a daily basis, making them an attractive option for EV owners seeking convenient charging solutions.

Ehren Cory, the Chief Executive Officer of CIB, stated that through investments in the expansion of EV charging infrastructure, the bank is addressing a pressing need among Canadians for accessible and convenient charging points located in urban centers. This initiative aligns with the broader goal of promoting sustainability and supporting the transition to electric vehicles across the nation.

This partnership marks CIB’s third investment in the EV charging infrastructure sector. To date, the bank has committed approximately $650 million to the development of around 5,500 public fast charging ports, demonstrating a growing commitment to enhancing Canada's EV ecosystem.

The report on this significant investment was first published on February 24, 2025, showcasing the ongoing efforts of public and private entities to foster the adoption of electric vehicles and reduce greenhouse gas emissions in Canada.

Overall, this financing deal not only signifies CIB’s strategic focus on sustainable infrastructure but also underscores the increasing importance of electric vehicle support systems in urban planning and environmental conservation initiatives across the country.