UK: Gridserve secures £100m to expand HPC infrastructure
Gridserve has secured £100 million in new equity investment from its institutional shareholders TPG, Infracapital and Mitsubishi to support the continued expansion of its High Power charging infrastructure across the UK. There is no mention whether the money will also be used for global expansion. As previously reported, the company founded Gridserve Global last year to expand beyond the UK. However, nothing has happened since.
In the UK, Gridserve operates “over 200 locations with 1,500 charging bays”, which were integrated by fuel and charging card provider DKV Mobility last year. The company’s shareholders highlighted their confidence in Gridserve’s strategy and its significant role in expanding and future-proofing EV charging as the UK accelerates its transition to electric vehicles.
“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,” said Roy Williamson, Chair of Gridserve. CEO Daniel Kunkel added: “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.”
“We are proud to continue supporting Gridserve as it scales its innovative and essential charging infrastructure,” commented Priya Veerapen, Managing Director at Infracapital “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, said: “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. We look forward to supporting Gridserve’s next phase of growth.”
Robert Gordon, CEO of Mitsubishi HC Capital UK Plc, added: “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.”
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