Gridserve has received an initial £200 million (€237 million) investment from Infracapital, the infrastructure equity investment arm of M&G Plc.
The investment supports Gridserve’s aspirations to build hybrid solar farms to supply power for its UK charging fleet.
This energy will be dispersed via a national network of charging stations, including Electric Forecourts and Electric Hubs, and by leasing a variety of the newest electric vehicles, which will hasten the adoption of electric automobiles.
Gridserve chief executive Toddington Harper said “Through this investment partnership with Infracapital, we’re excited that our plans can accelerate, and it’s evident we now have the momentum we require.”
“They are the perfect partners to join our business as we move to the next level as a company.”
“Their commitment to clean tech, infrastructure, and ESG gives our collective organisations deep-rooted synergies around a shared mission.”
“Investment in the future of our planet has never been so important and the IPCC’s latest dire warnings solidify the reality that we are in last chance territory, and we therefore need to take action as quickly as possible.”
“This investment partnership will enable Gridserve to continue to rise to this challenge and deliver maximum impact without delay.”
RBC Capital Markets (finance) and Clifford Chance provided advice on the deal for Infracapital, which joins Gridserve’s current partners Mitsubishi HC Capital UK Plc and TPG Rise (legal).
Nomura Greentech (finance), White & Case (legal), and PWC provided advice to Gridserve.