EQT Infrastructure to acquire UK electric vehicle charging network operator InstaVolt
Investment firm EQT Infrastructure has agreed to acquire InstaVolt, which operates around 700 rapid EV charging points across the UK. The deal will support InstaVolt's expansion and its goal of reaching 10,000 chargers by 2032.
EQT Infrastructure has reached an agreement to acquire InstaVolt, a UK-based operator and owner of electric vehicle (EV) charging points. The transaction involves significant investment commitments from EQT to accelerate the rollout of InstaVolt's charging network, aiming for 10,000 rapid chargers across the UK by 2032.
Founded in 2016, InstaVolt has grown into a significant independent operator of rapid EV charging infrastructure in the UK. Its current network comprises approximately 700 charging points, often located at retail, food, and forecourt sites. These locations provide convenience for EV drivers, allowing them to charge while conducting other daily activities.
The acquisition is positioned to support the UK's transition to electric mobility. With a substantial portion of British households lacking off-street charging facilities, public charging infrastructure is crucial. The rapid growth in EV sales, coupled with the UK's planned ban on new petrol and diesel car sales from 2030, underscores the need for expanded charging capabilities.
Anna Sundell, Partner and Head of EQT Infrastructure's UK Advisory Team, stated that EV charging networks are essential for the widespread adoption of electric vehicles. EQT aims to support InstaVolt's next phase of growth, contributing to the decarbonisation of the transport sector and the UK's transition towards net-zero emissions.