InstaVolt agrees sale of Spanish and Portuguese businesses to Powerdot to accelerate UK and Ireland growth strategy

As of today, we have announced that our Iberian business operations have been sold to leading European EV charging provider Powerdot. This includes our charging network and associated employees across Spain and Portugal.

The transaction follows significant interest from a number of strategic parties and 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. Supported by shareholders EQT and a consortium of leading lenders, the transaction further strengthens our ability to accelerate investment across our core UK and Ireland markets.

The sale also follows InstaVolt’s recent acquisition of a major national brand GeniePoint with over 228 locations and more than 260 charging devices, reinforcing the company’s position as the UK’s leading ultra-rapid charging network and creating additional opportunities for both organic growth and strategic acquisitions.

Since entering the Iberian market in 2023, we have successfully 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, whilst allowing us to redeploy charging infrastructure to support future growth and customer demand across our 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.”

The transaction reflects the company’s continued commitment to growth, operational excellence and delivering the best possible charging experience for EV drivers. Supported by the recent refinancing, we remain focused on expanding our market-leading network, investing in Battery Energy Storage Systems (BESS), photovoltaic (PV) generation, and the infrastructure required to support the next phase of EV adoption.

We are continuing to invest heavily in new flagship charging destinations, including the forthcoming ultra-rapid charging superhub at Chicklade on the A303, alongside the rollout of next-generation of BYD chargers including 240kW charging technology across our network.

With more than 1,200 locations secured across the UK and partnerships with many of the country’s leading brands, including McDonald’s, Costa Coffee, Starbucks, British Land and LondonMetric, we continue to strengthen our position as the UK’s leading ultra-rapid charging network and a key enabler of the transition to electric transport.