Gridserve receives £10m investment from Hitachi

Hitachi Capital UK has announced a £10 million investment in renewable developer Gridserve, which last month opened its first “Electric Forecourt” at Braintree in Essex.

The company is planning to build 100 of the electric vehicle charging hubs around the UK over the next five years and received £24 million from Hitachi in 2020 to fund the projects.

Hitachi is also working with Gridserve to offer electric vehicle leasing from the charging stations.

Gridserve chief executive Toddington Harper said: “Having Hitachi Capital UK as a shareholder in Gridserve represents a major milestone and landmark moment in Gridserve’s journey to deliver sustainable energy and move the needle on climate change.

“Delivering the UK’s first Electric Forecourt with net zero carbon energy provided by Clayhill Solar Farm, as well as launching the UK’s first net zero leasing business, is testament to the results and benefits we can deliver through our partnership, and we look forward to delivering many more Electric Forecourts and sustainable energy projects together in the months and years ahead.”

Robert Gordon, chief executive of Hitachi Capital UK said: “Our collaboration with Gridserve to deliver sustainable energy marks a breakthrough in delivering the world class infrastructure the UK needs in order to accelerate electric mobility.

“Combining our financial strength and motor industry expertise with Gridserve’s leading renewable energy work is a perfect partnership to create a new revolutionary green energy future. Our intention is to become a market leader for EV adoption and today’s announcement, along with our commitment that 20 per cent of our assets will support sustainable business projects over the next five years, shows our determination to deliver on that promise.”