GRIDSERVE raises $135 million to advance EV charging in UK
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, a UK-based on-the-go EV charge point operator, has secured £100 million (approximately USD 135 million) 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 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 said in a media release.
“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,” Roy Williamson, GRIDSERVE Chair, said. “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.”
“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,” Daniel Kunkel, GRIDSERVE CEO, said. “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.”
“We are proud to continue supporting GRIDSERVE as it scales its innovative and essential charging infrastructure,” Priya Veerapen, Managing Director, Infracapital, said. “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.”
“GRIDSERVE continues to offer a differentiated EV charging experience, led by quality, convenience, and reliability,” Jamie Gilbert, Business Unit Partner, TPG Rise Climate, said: “We look forward to supporting GRIDSERVE’S next phase of growth.”
“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,” Robert Gordon, CEO Mitsubishi HC Capital UK Plc, said.
