TPG’s global impact investing platform, The Rise Fund, has announced plans to invest in Gridserve alongside existing shareholder Hitachi, in a £100 million push to roll out EV charging across the UK>
Gridserve has rebranded Ecotricity’s Electric Highway network, acquired in June, as Gridserve Electric Highway and announced plans for 50 ‘Electric Hubs’ across the UK motorway network, each with up to a dozen 350kW chargers. Ten are expected to be completed this year, including at service stations in Reading (East and West), Thurrock and Exeter, and Cornwall.
The company said it has already replaced over 80 chargers at over 50 existing sites and it plans to upgrade all Ecotricity’s 300 chargers, at more than 150 service stations and IKEA stores, by September.

“We are excited to partner with Grideserve in helping to make EV charging in the UK a fast and anxiety free experience. We view this as critical to enabling the rapid decarbonization of road based transportation, especially for long distance journeys” said Edward Beckley, Partner at TPG and senior member of The Rise Fund’s climate investing team, who added:

“Decarbonised transport businesses, like Gridserve, are a core pillar of The Rise Fund’s climate investing strategy”.
To support continuity and transparency for EV drivers, all sites will continue to charge on a price per kWh of energy used basis. Grideserve has also developed a new Interactive Map to help journey planning. It will include the location of each site; the charging connectors in each location; whether chargers are in use or available; and details about the facilities on offer in each location.