Sydney-based EV charging company ReadySteadyPlug has secured AU$1.51 million (US$1.08 million) in funding from the Australian Renewable Energy Agency (ARENA) to accelerate the rollout of its EV Charging-as-a-Service (CaaS) solution in apartments and strata buildings across Australia.
The funding, awarded under ARENA’s Driving the Nation Program, will support the installation of up to 428 EV chargepoints and associated infrastructure as part of ReadySteadyPlug’s national deployment.
Combined with contributions from customers and ReadySteadyPlug, the ARENA support brings total funding for the rollout to AU$3.49 million.
ReadySteadyPlug’s smart, pay-as-you-go solution addresses two barriers to EV charging in strata complexes: upfront cost and electrical complexity. Compared to installing fast charging in every parking space, the company’s approach requires a lower capital outlay for Owners Corporations and no switchboard upgrades.
The platform enables charging via standard power outlets, combining smartphone access control, cloud-based metering and automated billing to deliver a Level 1 charging solution for apartment residents. The system includes Dynamic Load Management to ensure a building’s maximum electricity supply is never exceeded.
“We know that a lack of access to charging infrastructure at home can be a huge barrier to EV uptake for the millions of Australians who live in apartment buildings,” said Jukka Sintonen, CEO of ReadySteadyPlug.
“Our pay-as-you-go, affordable charging technology and infrastructure changes provide an accessible EV charging solution designed specifically for apartment buildings.”
The funding comes as Australia’s EV market continues to expand, with Victoria’s market share hitting 11.3% as the state shifts from subsidies to regulation. However, grid bottlenecks are blocking EV charging expansion as Australia faces fuel vulnerability, according to industry warnings.
Charging-as-a-Service model eliminates upfront barriers
ReadySteadyPlug’s approach differs from traditional EV charging installations by eliminating the large upfront investment for Owners Corporations.
Residents who don’t want an EV chargepoint do not pay for EV charging infrastructure or for electricity they don’t use. EV owners can charge at home whenever it suits them, and the Owners Corporation receives quarterly reimbursement for electricity used.
“The benefit of ReadySteadyPlug’s approach is that it does not require a large, up-front investment from an Owners Corporation,” Sintonen said.
“It’s a model that works for the whole building, not just early adopters.”
ARENA CEO Darren Miller said the project addresses a gap in Australia’s EV charging network.
“For millions of Australians living in apartments, the absence of simple, affordable charging at home remains a real barrier to electric vehicle adoption,” Miller said.
“ARENA’s funding will help to tackle this challenge by demonstrating solutions that lower the cost and complexity of EV charger installation. This will provide a replicable and scalable blueprint for other strata and apartment communities to follow.”
The project forms part of ARENA’s broader Driving the Nation Program, which has allocated AU$266 million to date for road transport projects.
Recent funding announcements under the programme include AU$18.1 million to Flow Power for ultrafast charging stations and AU$2.3 million to Essential Energy for rural and regional charging infrastructure.
Transport infrastructure investment is accelerating across Australia, with Transport NSW recently signing an AU$1.9 billion renewable energy deal to power its electric transport network.
