Hitachi Capital buys £10m stake in Gridserve

Hitachi Capital UK has invested £10 million in EV charging business Gridserve to support the rollout of 100 new Electric Forecourts.

Over the course of 2020, the financial services provider has funded more than £24m in Gridserve projects, including funding to help deliver the completion of the first Electric Forecourt in Braintree.

Hitachi Capital says this latest investment is aligned to its wider vision of financially supporting projects that go towards delivering a net zero carbon economy.

Robert Gordon, CEO of Hitachi Capital UK, said: “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% of our assets will support sustainable business projects over the next five years, shows our determination to deliver on that promise.”

Hitachi Capital’s partnership with Gridserve aims to “revolutionise” the UK’s approach to solar energy and create the infrastructure to accelerate the adoption of electric vehicles. 

Over the next five years, Gridserve will build more than 100 Electric Forecourts across the UK, delivering fast, ultra-convenient and reliable charging for EVs.

The partnership also encompasses the UK’s first net zero electric vehicle leasing business, which is designed to bring the cost of driving electric vehicles powered by net zero carbon energy well below that of petrol or diesel cars, and simultaneously minimise the environmental impact of EVs.

Toddington Harper, CEO of Gridserve Sustainable Energy, added: “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.”