Tuesday 9 August 2022

GRIDSERVE secures £200m investment to drive transport decarbonisation

GRIDSERVE secures £200m investment to drive transport decarbonisation

GRIDSERVE has secured an initial £200 million investment from Infracapital to support its drive to decarbonise the transport sector.

The decarbonisation will be supported through the deployment of electric vehicle (EV) infrastructure in the UK and beyond 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 Sun-to-Wheel model, which encompasses generating energy through hybrid solar farms, distributing energy through a national charging network of electric forecourts and electric hubs and leasing EVs.

It will enable the company to deliver more than 5,000 high power chargers by 2025 and expand development of its hybrid solar farms to 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 around one million miles in a modern electric car.

Its Electric Highway of national public charging network covers 85% of the UK's motorway service areas.

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. Their commitment to cleantech, 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.”

Written by

Bruna Pinhoni

Trending Articles