United Kingdom – Infracapital has agreed to invest an initial £200 million in GRIDSERVE to support the company’s efforts to decarbonize transportation through the installation of electric vehicle infrastructure and its goal to provide sustainable energy on the scale required to combat climate change.
The funding expedites GRIDSERVE’s plans to advance its ground-breaking Sun-to-Wheel model, which includes leasing a variety of the newest electric vehicles, generating energy through hybrid solar farms, distributing energy through an award-winning national charging network of Electric Forecourts and Electric Hubs, and all of the above.
Hybrid solar farms
With the help of Infracapital’s investment, GRIDSERVE will be able to provide over 5,000 High Power Chargers across Electric Super Hubs and Electric Forecourts by 2025. To produce and deliver net zero energy for its network, GRIDSERVE will also continue to develop its hybrid solar farms. Every acre of the UK solar farms that GRIDSERVE provides has the capacity to produce enough zero-carbon energy each year to power a modern electric car for roughly 1 million miles.
The initial investment made by Infracapital complements the ongoing multi-million pound collaboration with Mitsubishi HC Capital UK Plc, a financial services company, and TPG Rise, TPG’s global impact investing platform, which has increased its stake in the business as part of the Infracapital deal. Top-tier advisors, such as the law firm White & Case and the professional services company PWC, supported the investment. On the capital raise, Nomura Greentech served as GRIDSERVE’s financial advisor. RBC Capital Markets and Clifford Chance provided advice to Infracapital.
