EQT is pleased to announce that the EQT Infrastructure V fund has agreed to acquire InstaVolt Limited from Zouk Capital. InstaVolt is one of the UK’s fastest growing independent rapid charge point provider for electric vehicles (EVs).
InstaVolt is an operator and owner of electric vehicle charge points with a nationwide network across the UK. The company was founded in 2016 and built on a strong vision to enable the UK’s journey to net zero through the mass adoption of electric vehicles.
With a third of British households lacking access to off-street charging, many rely on public charging stations. InstaVolt’s mission-critical nationwide network of reliable charge points offers secure charging for electric car 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 electric vehicle drivers consecutively for the last four years.
EQT Infrastructure is committed to investing significantly to accelerate InstaVolt’s expansion of charge points across the UK and support the mission to roll out 10,000 rapid electric vehicle chargers by 2032.
The company’s strong market position, combined with EQT’s deep knowledge of energy transition and sustainability, will set up InstaVolt for further success, both in the UK and abroad.
Anna Sundell, Partner and Head of EQT Infrastructure’s UK Advisory Team, said: “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 decarbonising the transportation sector and driving the transition towards net zero in the UK and beyond.”
Adrian Keen, InstaVolt CEO, said: “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.
“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.”