Legal & General acquires stake in EV charging firm Pod Point

0

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

Related stories:

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here