GRIDSERVE secures £100m investment

Electric vehicle (EV) charging provider GRIDSERVE has secured an equity investment worth £100m from its institutional shareholders.

Daniel Kunkel, CEO at GRIDSERVE, 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.”

The capital was committed by TPG, Infracapital, and Mitsubishi, joining GRIDSERVE’s existing debt facilities.

Half of EV drivers that used public chargers in the 2024 used a GRIDSERVE charger, according to a survey by Zapmap.

Jamie Gilbert, business unit partner at TPG Rise Climate, said: “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.

“We look forward to supporting GRIDSERVE’S next phase of growth.”