GRIDSERVE accelerates with £200m boost from infracapital

GRIDSERVE, the tech-enabled sustainable energy business, has secured an initial £200m investment from Infracapital, the infrastructure equity investment arm of M&G Plc, in support of the company’s drive to decarbonise transport through electric vehicle infrastructure and its mission to deliver sustainable energy on the scale needed to move the needle on climate change.

The investment accelerates GRIDSERVE’s plans to further the company’s pioneering Sun-to-Wheel model, which encompasses generating energy through hybrid solar farms, distributing energy through an award-winning national charging network of Electric Forecourts® and Electric Hubs, and accelerating the uptake of electric vehicles with leasing a wide range of the latest electric vehicles.

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 is transforming the EV charging experience and accelerating the decarbonisation of transport with the GRIDSERVE Electric Highway charging network, supplied by net zero carbon energy.

The GRIDSERVE Electric Highway is a leading national public charging network covering 85% of the UK’s motorway service areas and some of the UK’s busiest retail destinations, and is already successfully charging over 100,000 electric vehicles every month.

Infracapital’s investment enables GRIDSERVE to deliver over 5,000 High Power Chargers by 2025, across both Electric Super Hubs and Electric Forecourts®.

GRIDSERVE will also expand development of its hybrid solar farms to generate and deliver net zero energy for its network. Every acre of UK solar farms that GRIDSERVE delivers is able to generate enough zero carbon energy every year to drive approximately 1 million miles in a modern electric car. GRIDSERVE Car Leasing will also continue its growth.

Infracapital’s initial investment complements the continuing multi-million pound partnership with financial services company, Mitsubishi HC Capital UK Plc and TPG Rise – TPG’s global impact investing platform, who have also increased their shareholding in the company as part of the Infracapital transaction.

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