Electric vehicle (EV) charging infrastructure provider InstaVolt now has a new owner. EQT Infrastructure has agreed to acquire rapid EV charging operator InstaVolt from Zouk Capital.
Headquartered in Basingstoke, InstaVolt owns and operates a network of EV charging devices across the UK. Founded in 2016, and built on a vision to enable the UK’s journey to net zero through mass adoption of EVs, InstaVolt was recently awarded ‘Best EV Charging Network’ in Zap-Map’s EV charging network rankings, as rated by EV drivers.
With many EV drivers without access to off-street parking relying on the UK’s public charging network, InstaVolt’s nationwide network of reliable charge points offers secure charging for EV owners to depend on.
InstaVolt’s charge points are most often situated at retail, food, beverage and forecourt sites, offering a convenient service for the end-user who can combine their charge with other day-to-day activities. Current partners include McDonald’s, Costa Coffee and Booths, among others. By providing a reliable, easy-to-use and easily accessible service to its customers, InstaVolt has been rated the most popular open network by EV drivers consecutively for the last four years.
“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,” said Adrian Keen, Chief Executive Officer at InstaVolt.
“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.”
EQT Infrastructure is committed to invest significantly in accelerating InstaVolt’s expansion of charge points across the UK, and support the mission to roll out 10,000 rapid EV chargers by 2032. InstaVolt’s strong market position, combined with EQT’s knowledge within energy transition and sustainability, should set up InstaVolt for further success.
“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,” said Anna Sundell, Partner and Head of EQT Infrastructure’s UK Advisory Team.
The investment sees founding investor Zouk Capital exit after establishing the Company with the InstaVolt management team in 2016. Zouk is the manager of the Charging Infrastructure Fund (“CIIF”) and has a central objective of scaling open-access, public EV charging networks for the UK’s EV drivers.
“The InstaVolt team and Zouk identified the opportunity in 2016 and built one of the leading rapid EV charging infrastructure companies in the UK. We believe the management team are in great hands with EQT and wish InstaVolt the very best for the next stage of their journey,” said Massimo Resta, Partner at Zouk Capital.