Electric vehicle chargepoint operator (EV CPO) Raw Charging has raised £250 million from private equity firm Antin Infrastructure Partners in its latest fundraising round.
The investment will help accelerate the CPO’s installation pipeline of 10,000 charging points in the next three years and expects to have more than 1,000 charging points operating by December 2022.
The company has established its network in the destination market installing chargers at workplaces, leisure facilities or transport hub carparks.
After a rapid growth year, according to the company, it has secured contracts with Greene King for whom it is installing 800 chargers at its pubs and hotels, McArthurGlen, where it is installing chargers at designer outlets and Aviva Investors, for whom it will provide chargers at 60 commercial property sites.
The company expanded its operations last year when it acquired Franklin EV, adding 128 charging points and a further 370 managed chargers to its portfolio.
Further acquisitions have not been ruled out at the time according to Bruce Galliford, CEO at Raw Charging, speaking to Current± about the acquisition.
The company has a pipeline of over 4,000 sites and 40,000 chargers which it is seeking to install in the coming years.
Bruce Galliford, CEO at RAW Charging, said: “The market for destination charging is growing and supported by policy in both the UK and Europe. We believe our business model is perfectly placed to generate captive returns for our investors from a large portfolio of EV assets and we look forward to continuing to deliver on our growth plans.”
Rodolphe Brumm and Leonardo Adami from Antin Infrastructure Partners, will join the board of directors.