Chargepoint operator (CPO) GRIDSERVE has announced that it has secured £100 million in new equity investment from existing shareholders.
The capital was committed by TPG, Infracapital, and Mitsubishi, and will be used to support GRIDSERVE’s efforts to expand high-power EV charging infrastructure across UK roads. The company claims that it is the most used EV charging network in the UK and currently operates over 1,500 EV charging bays across 200 locations.
Commenting on this new funding injection, Daniel Kunkel, GRIDSERVE CEO, said: “I am delighted that the growth in confidence and investment from our shareholders continues to give us the ability to grow our capacity to serve our customers, building on our status as the most used network in the UK.”
Robert Gordon, CEO of Mitsubishi HC Capital UK, said that GRIDSERVE “continues to set the benchmark for what resilient, future-ready EV infrastructure should look like”. He added: “Our continued support reflects confidence not just in GRIDSERVE’s leadership, but in the vital role it plays in supporting the UK’s clean transport ambitions”.
Ambitious plans for GRIDSERVE
GRIDSERVE has made significant efforts towards expanding in the UK and across the world in recent months and years.
Last year, the company announced the formation of a new arm of the company focused on international growth, Gridserve Global, which will work alongside the firm’s UK operations to expand into other large EV markets around the world.
More recently, the firm has partnered with premium private hire vehicle firm Addison Lee to increase sustainable transport options to and from Gatwick Airport. Addison Lee drivers will now be able to access 22 high-powered EV chargers at GRIDSERVE’s Electric Forecourt at Gatwick South Terminal, while also benefiting from off-peak charging tariffs and exclusive discounts. In April, GRIDSERVE joined forces with UK Power Networks (UKPN) to install a new battery energy storage system (BESS) at this charging hub. Two 3.6MW batteries were connected to UKPN’s distribution network, which are capable of powering the entire site for three hours at full capacity.
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