Electric vehicle (EV) charging company EnviroSpark Energy Solutions (see Pulse 2.0 profile here) announced it has secured a $50 million investment by funds advised by Basalt Infrastructure Partners LLP, a leading mid-market infrastructure equity investment firm focusing on investments in Europe and North America.
This funding round will drive EnviroSpark’s goal to transform the EV charging landscape, enabling the company to rapidly expand its owned and operated network across the US, innovate its technologies and enhance the accessibility and sustainability of EV infrastructure.
Building on the momentum of $15 million funding round led by Ultra Capital in 2022, Georgia-based EnviroSpark has established itself as a key player in the EV charging market. And with a footprint of over 8,200 charging plugs across North America, the Company is well-positioned to further advance the adoption of electric mobility.
EnviroSpark continues solidifying its position as a leader in the EV charging industry through strategic partnerships and innovative initiatives. And the company recently cultivated strategic partnerships with industry leaders across various sectors, including RaceTrac, Waffle House, IHG Hotels & Resorts, Ford Dealerships, HHHunt, and Asset Living. Along with longstanding partnerships with Tesla, Volkswagen, Volta (recently acquired by Shell), and Starwood Capital Group, the company has also partnered with the U.S. Federal Government through the General Services Administration, which highlights EnviroSpark’s dedication to driving widespread commercial and government EV adoption by addressing critical infrastructure needs.
EnviroSpark was also selected by the Georgia Department of Transportation (GDOT), EnviroSpark will construct significant DCFC charging projects in Tifton and Metter, Georgia, along with installations at a Waffle House in Lakeland, Tennessee, chosen by the Tennessee Department of Transportation (TDOT). And these awards funded by the Federal government through the Bipartisan Infrastructure Law further exemplify EnviroSpark’s commitment to fostering innovation and sustainability in the electric vehicle infrastructure domain, driving towards a future of accessible and eco-friendly transportation solutions.
KEY QUOTES:
“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark. With strategic support from Basalt, we are poised to accelerate our mission of fostering sustainable transportation solutions. This investment not only fuels our expansion efforts but also reinforces our commitment to making electric mobility accessible and convenient for all.”
– Aaron Luque, co-founder and CEO of the company
“As part of our strategy to invest in compelling scale-up opportunities in low carbon infrastructure, Basalt is delighted to be partnering with EnviroSpark to help drive their next phase of growth in delivering long-term sustainable EV charging solutions to customers across North America. EnviroSpark’s industry leading team is accelerating the build out of the EV-charging network across North America at this pivotal time for the clean transportation sector and we are proud to be sharing in their mission.”
– Andrew Marsden, Basalt’s Head of Energy Transition
