Gridserve gains £200m investment to deliver thousands of new chargers

Gridserve has secured an initial £200m investment from equity firm Infracapital, furthering its ambitions to ‘deliver sustainable energy on the scale needed to move the needle on climate change’.

Infracapital, the infrastructure equity investment arm of M&G Plc, joins existing partners TRG Rise and Mitsubishi HC Capital UK in support of Gridserve’s plans to decarbonise transport through the use of electric vehicles. This new investment also boosts Gridserve’s plans to develop its sun-to-wheel model, which looks at generating energy via solar farms before distributing it to EV drivers via its network of Electric Forecourts and Electric Hubs.

Gridserve plans to install ‘at least’ 5,000 high power chargers across the UK by 2025.

Toddington Harper, Gridserve CEO, 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.”

Gridserve’s Electric Highway is a ‘leading national public charging network’ and already covers 85 per cent of the UK’s motorway service areas. Each month, it charges over 100,000 electric vehicles. Every acre of UK solar farm that Gridserve creates is able to generate enough zero-carbon energy every year to drive around one million miles in an electric car.

Andy Matthews, head of Greenfield at Infracapital, said: “We are delighted to have invested in Gridserve, as part of our ongoing drive to enable positive change and to make a meaningful contribution to the energy transition while delivering value to our investors.”