UK EV charge point operator Gridserve has secured £100m in new equity investment from its institutional shareholders which the company says will further underpin its platform for continued profitable growth.
Alongside existing equity and debt facilities, the capital, committed by TPG, Infracapital and Mitsubishi, will support Gridserve in capitalising on long-term opportunities as it continues to accelerate the rollout of High Power charging infrastructure across the UK’s busiest roads.
Gridserve says the further investment reflects the confidence its shareholders have in the company’s strategy and the significant role Gridserve plays in expanding and future proofing EV charging at this critical time in the UK’s transition to electric vehicles. Gridserve is the most used network in the UK and over half of EV drivers, that have used public charging in the past year, have utilised the Gridserve Electric Highway to power their journeys.
Roy Williamson, Gridserve chair, said; “This equity raise places Gridserve in a robust position to sustain its network growth and signifies a strong vote of confidence in the company’s future growth prospects. Gridserve's deep EV expertise sets the industry standard with a reliable 99% uptime, customer satisfaction, and service excellence, while we are further strengthening strategic partnerships with leading locations.”
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. Our exceptional 5-star rated customer experience sets the industry standard for satisfaction and service excellence, while our strong strategic partnerships with leading locations provides a base for the further strengthening of our platform for growth, which comes at a critical moment in the energy transition.”
Priya Veerapen, Managing Director, Infracapital said: “We are proud to continue supporting Gridserve as it scales its innovative and essential charging infrastructure. This latest investment demonstrates our continued long-term confidence in the company and its focus on meeting the evolving needs of EV drivers across the UK.”
Robert Gordon, CEO Mitsubishi HC Capital UK, said: “Gridserve continues to set the benchmark for what resilient, future-ready EV infrastructure should look like. 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 through a network that delivers at scale, with quality and consistency.”
