Gridserve has acquired all of Ecotricity’s electric vehicle charging network Electric Highway.
Gridserve took 25% of Electric Highway in March, promising to replace existing chargers will be replaced with new technology, doubling the capacity. It said it would offer three connection types (CCS, CHAdeMO, and AC) and contactless payment and would install up to a dozen 350kW chargers. Funding was provided by Hitachi Capital (UK) PLC, a Gridserve shareholder.
Ecotricity said it would use the sale proceeds in its core green energy business, bringing forward a series of solar and battery storage projects to be built without government support. It will also support new projects to make gas from grass (Green Gasmill) and using atmospheric carbon capture and storage to make diamonds.
Meanwhile Gridserve has sought to attract UK landowners and retail or leisure roadside business owners who can host EV charging hubs on their property. It said EV hubs would ‘future proof’ such businesses, offering persistent footfall and dwell time, income from its rental and profit-share scheme and higher value from land. It promised to install hubs with “including zero capital outlay or operating expenses, flexible installation sizes, annual benefits, and a £1,000 signing bonus”.