GRIDSERVE, the leading on-the-go electric vehicle (EV) charge point operator (CPO), announces that it has secured 100m pounds in new equity investment from its institutional shareholders to further underpin its platform for continued profitable growth.
Alongside existing equity and debt facilities, the capital, committed by TPG, Infracapital and Mitsubishi, will support the CPO in capitalising on long-term opportunities as it continues to accelerate the rollout of High Power charging (HPC) infrastructure across the UK’s busiest roads.
The further investment reflects the confidence GRIDSERVE’s shareholders have in the company’s strategy.
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, says; “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, states: “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 at Infracapital, indicates: “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.”
Jamie Gilbert, Business Unit Partner at TPG Rise Climate, says: “GRIDSERVE continues to offer a differentiated EV charging experience, led by quality, convenience, and reliability. This additional investment from TPG Rise Climate underscores our shared commitment to leading the decarbonisation of transportation in the UK by harnessing renewable energy and distributing it across a scaled national charging network of Electric Forecourts and Electric Super Hubs.”
Robert Gordon, CEO Mitsubishi HC Capital UK Plc, states: “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.”
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