Smart electric vehicle (EV) charging firm 3ti Energy Hubs (3ti) has completed the strategic divestment of its solar car park construction division to Phoenix Renewables Limited (trading as egg).
The divestment aligns with 3ti’s mission to accelerate the UK’s transition to electric vehicles by providing accessible, reliable charging infrastructure.
The multi-million pound transaction will enable the certified B Corporation to rapidly scale its award-winning solar EV charging hub, Papilio3, it said. Installations to date include sites such as Silverstone Circuits, NHS hospitals and police forces across the UK.
3ti will continue to work in partnership with egg where their respective technologies complement each other, ensuring continuity of service for existing clients while pursuing growth in the rapidly expanding EV charging market.
The transaction includes the transfer of 3ti’s pipeline of enterprise opportunities, intellectual property, three highly-skilled employees, and expertise accumulated over five years of market leadership in the solar car park sector.
3ti’s solar car park portfolio has generated over 20 GWh of clean electricity to date.
3ti said it will now “focus entirely on scaling its revolutionary Papilio3 technology”. Built around upcycled shipping containers with 19.3kWp of solar capacity, the Papilio3 requires minimal groundworks so is ideal for rapid deployment across workplaces, fleets and destination locations.
Alex Tupman, CEO of 3ti, said:
“This strategic move represents a pivotal moment for 3ti as we focus our resources on what we do best – delivering rapid, reliable EV charging solutions through our patented Papilio3 technology.
“egg’s backing by Liberty Global Europe and their experience in the clean energy sector makes them the perfect partner to continue serving our enterprise solar car park clients.”
Paul Almond, Director of B2B at egg, said:
“This acquisition lays the foundation for growth in a hugely relevant market.
“Car parks represent a major untapped energy resource, but complexity and capital costs often delay progress. We now have advanced software that lets us quickly design solar car port layouts, calculate expected generation and CO₂ savings, and combine this insight with our financing solutions to build compelling business cases in minutes. We can fund and deliver the full project, enabling customers to act quickly and confidently.”
Image courtesy of 3ti
