Ultra-rapid electric vehicle (EV) charging network InstaVolt has reached agreement with European EV charging provider Powerdot for the sale of its Iberian business operations, charging network and employees.
The transaction represents the next phase of InstaVolt’s long-term growth strategy, following the successful completion of its recent £250 million debt refinancing and £40 million equity investment. It aims to strengthen InstaVolt’s ability to accelerate investment across its core UK and Ireland markets.
Since entering the Iberian market in 2023, InstaVolt has established a high-quality charging network across Spain and Portugal, supporting the region’s transition to electric mobility.
The transaction will enable the continued development of the network under Powerdot’s ownership, while allowing InstaVolt to redeploy charging infrastructure to support future growth and customer demand across its core markets.
Delvin Lane, CEO of InstaVolt, said:
“Over the past few years, we have successfully established a high-quality charging network across Spain and Portugal, supported by a dedicated local team and strong partnerships. We are immensely proud of what has been achieved and grateful to everyone who has contributed to building the business. We are confident that Powerdot is exceptionally well placed to continue building on those strong foundations and support the ongoing transition to electric mobility across the Iberian Peninsula.”
“Following our recent refinancing and the significant opportunities emerging in our core markets, we carefully evaluated how best to deploy capital to maximise long-term growth and shareholder value. This agreement enables us to recycle capital into our core UK and Ireland markets, accelerating both organic growth and strategic acquisitions.”
“Our confidence in the market is demonstrated by our recent acquisition of the GeniePoint network and our continued investment in next-generation charging technology, battery energy storage systems and renewable energy generation. These investments will help us further improve reliability, accelerate deployment and continue reducing charging costs for drivers through initiatives such as our market-leading off-peak charging tariffs.”
“This is an incredibly exciting time for the UK electric vehicle market. Record levels of BEV adoption, combined with significant advances in vehicle technology and charging infrastructure, provide enormous opportunities for growth. We are also working closely with a number of leading European and Chinese vehicle manufacturers to create an increasingly integrated and seamless charging experience for EV drivers.”
Image courtesy of InstaVolt
