EQT Infrastructure has agreed to acquire independent rapid EV charging operator InstaVolt from Zouk Capital.
The company says it will invest significantly to accelerate InstaVolt’s expansion of charge points across the UK, and reach a nationwide network of 10,000 rapid electric vehicle chargers by 2032
InstaVolt, which is headquartered in Basingstoke, currently operates a nationwide network of about 700 charge points
These are often situated at retail, food, beverage and forecourt sites, and current partners include McDonald’s, Costa Coffee and Booths.
The investment sees InstaVolt’s founding investor Zouk Capital exit after establishing the company with the management team in 2016.
Adrian Keen, InstaVolt’s chief executive Officer, said, “InstaVolt has set a standard in the UK for driver experience and infrastructure, and now with support from EQT, we are in a unique position to accelerate that target and replicate our model in other geographies, transitioning the business into the next phase of growth.
“We want to thank our partners and customers who have supported us on our journey so far and want our customers to be reassured that what has made InstaVolt so successful, including our focus on reliability and ease of use, remains unchanged.”
Anna Sundell, partner and head of EQT Infrastructure’s UK Advisory Team, added, “The future is electric and InstaVolt is essential to the roll-out of EV charging infrastructure across the UK, a prerequisite for enabling mass adoption of EVs.
“We are excited about supporting InstaVolt in the next phase of growth and for EQT to play its part in decarbonizing the transportation sector and driving the transition towards net zero in the UK and beyond.”