3 minute read
GridServe
by 55 North
GridServe, a tech-enabled sustainable energy business, has secured an initial £200m investment from infrastructure equity investment company Infracapital to support its drive to decarbonise transport through electric vehicle infrastructure.
GridServe is transforming the EV charging experience and accelerating the decarbonisation of transport with its Electric Highway charging network, supplied by net zero carbon energy. The GridServe Electric Highway covers 85% of the UK’s motorway service areas and some of the UK’s busiest retail destinations; it is already charging more than 100,000 electric vehicles every month.
GridServe and Moto recently launched its seventh Electric Super Hub this year at Moto Wetherby, North Yorkshire, on the A1(M) at junction 46. The charging facilities have 12 high power chargers, making it the largest public high power charging facility in Yorkshire. Moto Wetherby takes the total number of Electric Super Hubs to eight across the country including Rugby, Burton-in-Kendal, Exeter, Thurrock, Heston West, Severn View, and Swansea.
In addition, Plymouth City Council recently approved the development of a GridServe Electric Forecourt in the city – the region’s first all-electric vehicle charging station. GridServe has also submitted a planning application to Liverpool City Council for an Electric Forecourt development that would serve as a sustainable transport gateway to the city.
The Infracapital investment will help accelerate GridServe’s plans to advance its Sun-to-Wheel model, which encompasses generating energy through hybrid solar farms, distributing energy through its charging network of Electric Forecourts and Electric Hubs, and accelerating the uptake of electric vehicles.
In addition, the investment will enable GridServe to deliver more than 5,000 high power chargers by 2025, across both Electric Super Hubs and Electric Forecourts.
The company will also expand the 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 can generate enough zero-carbon energy every year to drive approximately one million miles in a modern electric car. In addition, GridServe Car Leasing will also continue its growth.
Toddington Harper, GridServe chief executive, 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.”
Andy Matthews, head of greenfield at Infracapital, added: “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. GridServe is leading the charge in the decarbonisation of the UK’s transport system and is led by an experienced management team that has already made great progress in expanding Grid- Serve’s platform. We look forward to working with the GridServe team as the business moves into this next phase of growth.”
