Legal & General has acquired a 13 per cent stake in electric vehicle charge point operator Pod Point.
The EV charging firm recently struck a major deal with Tesco to install 2,400 charging bays in car parks at around 600 UK stores. Pod Point has 60,000 charging points in the UK and Norway, one of the most advanced EV markets.
John Bromley, head of clean energy for Legal & General’s Future Cities business, said the investment has “clear synergies” for the business as it plans to install charging points across its own estate and new homes portfolio.
“Our investment in Pod Point anticipates a clean, electric and digital energy future that will be accessible and affordable for all,” he suggested.
Pod Point CEO, Erik Fairbarn, said: “Legal & General’s Future Cities’ business is a great fit for Pod Point’s own vision, which is for travel that doesn’t damage the Earth. By welcoming Legal & General on board as a shareholder it feels like we’re one step closer to achieving this ambition.”
He said the company would use the money to keep growing its footprint and improving its technology.
Is your business considering installing EV charging infrastructure? There are some free tickets remaining for our EV Event, 9 April, London (terms & conditions apply).
If you can spare 4 minutes, take our EV survey and help inform a new, free report
EVs, smart charging and vehicle-to-grid: Give us your views
Pubs and supermarkets the new petrol stations?
Yü Energy gets into EV business
EV charging companies must collaborate to avoid walled gardens
Nottingham to tender for battery and 40 vehicle-to-grid chargers
Nissan: 2019 will be “breakthrough year” for vehicle-to-grid
Mitsubishi plots vehicle-to-grid push
Volkswagen launches energy company
Nissan: Vehicle to grid services will not drain EV batteries
BT and Eon pledge to electrify fleet by 2030
Pubs the new petrol stations?
Sir Terry Leahy on EVs, infrastructure and pitching to the board
Chargepoint raises £189m to fund EV charging infrastructure
Total partners with Chargepoint to bundle energy and EVs to businesses
Bring forward zero carbon transport target, MPs urge
Octopus backs flex and EVs for growth
Nissan and Eaton rollout commercial scale battery
Pivot Power makes huge play for 2GW battery storage and EV charging network
You only live twice: Battery storage from second hand EV powerpacks
‘Land grab’ for EV car parks and revenue
Energy managers ‘to become fleet managers as EVs rise’
Electric vehicle boom no sweat, says National Grid
Electric vehicles ‘won’t require new power stations’, say analysts
Northern Powergrid: EVs a resource not a problem
EVs ‘could provide 11GW of flex’
National Grid focuses on bringing smaller firms and EVs into flexibility
Carmakers become aggregators as DNOs fear overnight EV boom
Tesla: People don’t engage with energy bills, but they will have to
Lord Redesdale: Idea of EVs as battery storage is “complete crap”
Click here to see if you qualify for a free subscription to the print edition of The Energyst, or to renew.
Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.