{"id":184317,"date":"2023-06-06T17:26:51","date_gmt":"2023-06-06T16:26:51","guid":{"rendered":"https:\/\/instavolt.is\/?p=184317"},"modified":"2024-01-19T15:24:57","modified_gmt":"2024-01-19T15:24:57","slug":"significant-investment-promises-swift-acceleration-towards-supporting-icelands-ev-transition","status":"publish","type":"post","link":"https:\/\/instavolt.is\/en\/frettir\/significant-investment-promises-swift-acceleration-towards-supporting-icelands-ev-transition\/","title":{"rendered":"Significant investment promises swift acceleration towards supporting Iceland\u2019s EV transition"},"content":{"rendered":"<p><strong>Reykjavik, June 6 2023:<\/strong> Leading rapid electric vehicle charging network, InstaVolt, has announced a significant investment into building EV infrastructure in Iceland, supporting Iceland\u2019s commitment to reach net-zero carbon by 2040.<\/p>\n<p>InstaVolt has today launched the country\u2019s largest rapid electric vehicle charging hub at Courtyard by Marriott Reykjavik Keflavik Airport. The 20 chargers will be powered by 100% renewable energy supplied by InstaVolt\u2019s energy partner HS Orka, Iceland\u2019s leading private electricity generator, who have been operating geothermal energy plants in Iceland for more than 40 years.<\/p>\n<p>This is an important announcement for Iceland as it looks to achieve its target of banning the registration of new gasoline and diesel cars by 2030, while developing its EV charging network for both residents and tourists, who will be encouraged to travel sustainably around the country.<\/p>\n<p>Earlier in the day Iceland\u2019s car rental operators were invited to a special presentation by InstaVolt who explained how its plans could help the car rental companies expand their EV fleets.<\/p>\n<p>Latest figures from 2022, reveal that the market share of electric vehicles in Iceland is around 60%, the second highest in the world behind Norway. Around 14% of the country&#8217;s passenger car fleet is electrified as of 2022.<a href=\"https:\/\/en.wikipedia.org\/wiki\/Plug-in_electric_vehicles_in_Iceland#cite_note-:1-3\"><sup>[3]<\/sup><\/a><\/p>\n<p>Iceland is well suited to the adoption of EVs as driving distances are relatively short, the country has affordable, surplus\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Renewable_energy\">renewable energy<\/a>\u00a0(99.98%\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Electricity_sector_in_Iceland\">renewable electricity<\/a>\u00a0in 2022) and has to import all of its\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Fossil_fuel\">fossil fuels<\/a>.<a href=\"https:\/\/en.wikipedia.org\/wiki\/Plug-in_electric_vehicles_in_Iceland#cite_note-4\"><sup>[4]<\/sup><\/a> Electric vehicles (EVs) are a key component of the country&#8217;s environmental policy and compliance with the\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Paris_Agreement\">Paris Agreement<\/a>, with road transport contributing 20% of Iceland&#8217;s total\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Greenhouse_gas_emissions\">greenhouse gas emissions<\/a>.<\/p>\n<p>This is a significant move for InstaVolt as it represents the company\u2019s first expansion into an international market. \u00a0InstaVolt, which has plans for a further 200 installations in Iceland over the next two years, has a reputation for reliably and ease of use with payment by contactless debit or credit card.<\/p>\n<p>Officiating at the activation ceremony, Gudlaugur Th\u00f3r Th\u00f3rdarson, Minister of the Environment, Energy and Climate, said: \u201cIceland has been successful in\u00a0its\u00a0energy 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\u00a0the government\u2018s plan for\u00a0full energy transition by 2040 we need to accelerate our energy transition and an increasing number of EV chargers\u00a0should\u00a0make it easier for us to meet our sustainability targets.\u201d<\/p>\n<p>HS Orka\u2019s CEO, T\u00f3mas M\u00e1r Sigur\u00f0sson, said: \u201cWe wanted to partner with a company with a long and successful history in the field of rapid EV charging, and therefore InstaVolt was our first choice. We welcome them to the Icelandic market and look forward to participating with the company in further developing the EV infrastructure throughout Iceland.\u201d<\/p>\n<p>InstaVolt Chairman, and HS Orka Chairman Adrian Pike, said: \u201cI 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\u2019s 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\u2019s electric vehicles. We look forward to continuing our roll-out of rapid chargers across the country.\u201d<\/p>\n<p>For more information on InstaVolt, visit <a href=\"http:\/\/www.instavolt.is\">www.instavolt.is<\/a> Information on HS Orka can be found at <a href=\"http:\/\/www.hsorka.is\/en\">www.hsorka.is\/en<\/a> <a href=\"https:\/\/www.bing.com\/search?q=hs+orka&amp;form=ANNH01&amp;refig=09de1aed6f534814a7e71959428c4481&amp;pc=U531&amp;sp=7&amp;ghc=1&amp;lq=0&amp;qs=MT&amp;pq=hs+or&amp;sc=6-5&amp;cvid=09de1aed6f534814a7e71959428c4481\"><br \/>\n<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reykjavik, June 6 2023: Leading rapid electric vehicle charging network, InstaVolt, has announced a significant investment into building EV infrastructure in Iceland, supporting Iceland\u2019s commitment to reach net-zero carbon by &hellip; <a href=\"https:\/\/instavolt.is\/en\/frettir\/significant-investment-promises-swift-acceleration-towards-supporting-icelands-ev-transition\/\">Continued<\/a><\/p>\n","protected":false},"author":6,"featured_media":184350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[83],"class_list":["post-184317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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