GRIDSERVE, a Buckinghamshire-based tech-enabled sustainable energy company, has secured an initial £200M investment from Infracapital, the infrastructure equity investment arm of M&G Plc, to decarbonise transport through electric vehicle infrastructure.
With this round, Infracapital joins with existing partners, including TPG Rise and Mitsubishi HC Capital UK Plc.
The company will use the capital to accelerate its Sun-to-Wheel model, which encompasses generating energy through hybrid solar farms and distributing energy through a charging network of Electric Forecourts and Electric Hubs.
The UK company also plans to deliver over 5,000 High Power Chargers by 2025 across both Electric Super Hubs and Electric Forecourts. In addition, GRIDSERVE is also planning to expand the development of its hybrid solar farms to generate and deliver net zero energy for its network.
Toddington Harper, CEO of GRIDSERVE, says, “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 significant, and the IPCC’s latest dire warnings solidify the reality that we are in last chance territory. 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.”
Decarbonising transport
The UK company is accelerating the decarbonisation of transport with the GRIDSERVE Electric Highway charging network, supplied by net zero carbon energy.
Currently, the GRIDSERVE Electric Highway covers around 85% of the UK’s motorway service areas and some of the UK’s busiest retail destinations. The company has already successfully charged over 100,000 electric vehicles every month.
Investor
Infracapital invests in, builds, and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth.
Andy Matthews, Head of Greenfield at Infracapital, says, “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 GRIDSERVE’s platform. We look forward to working with the GRIDSERVE team as the business moves into this next growth phase.”
