EV charging start-up Charge bypasses JSE for token-based raise

South African off-grid EV charging company Charge (formerly Zero Carbon Charge) is bypassing the JSE stock exchange to raise public investment through Mesh, a blockchain-based platform that tokenises real-world assets. Founder Joubert Roux explained that JSE listing requirements take 18 months and are too costly for an early-stage company needing to deploy capital quickly. The company has already raised R100-million from the Development Bank of South Africa and is building charging stations along the N3 highway. A public token offering open to all South African investors is planned for June, lowering the investment minimum below the R1-million threshold of private raises. The company needs just seven vehicles per day per station to break even on an EBITDA basis, and faces timing risk from slow EV adoption as well as regulatory friction from roads agency Sanral.