Ecotricity sells EV charging network to GRIDSERVE

UK-based renewable energy company Ecotricity has sold its electric vehicle (EV) charging network, Electric Highway, to sustainable energy solutions provider GRIDSERVE.

The divestiture will allow Ecotricity to focus on innovations in its green energy business, including the UK’s first Green Gasmill, which will use grass to produce ‘natural gas’ for the grid.

The sale will also advance a series of solar and battery storage projects, which will be built without government support, and expand the company’s Sky Mining facility.

Sky Mining is a carbon capture and storage process that turns atmospheric carbon dioxide into lab-grown diamonds, known as Skydiamond.

Ecotricity founder Dale Vince OBE said: “We’ve reached an interesting point in the electric car revolution.

“Exponential growth is just round the corner, while the technology for charging has evolved into one ruling standard, offering charging speeds that are almost on par with fossil powered ones, where you top up once every week or two.

“At the same time, the Electric Highway needs a growth spurt to make sure it stays ahead of driver demand and continues to play its key role as the network that delivers more miles a year for UK drivers than any other.

“For this, the Electric Highway needs an owner with access to serious funding and real commitment to the cause. I’m delighted to have found the ideal company, in GRIDSERVE, to hand the baton to.”

Following the acquisition, GRIDSERVE will invest in the Electric Highway by replacing all its existing pumps with new technologies featuring the latest advances, including contactless payment methods.

Last month, Electric Highway unveiled the first high-power charging facility on the UK’s motorway network. The facility, located at Moto’s new service station in Rugby, features 12 350kW chargers.

Established in 2011, the network currently offers a 350kW charging standard, enough energy to travel 100 miles, with charge times of around five minutes.