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EnviroSpark Energy Solutions, a prominent player in the electric vehicle (EV) charging sector, recently unveiled a substantial $50 million investment received from funds managed by Basalt Infrastructure Partners LLP. This significant capital injection is set to broaden and bolster EV charging facilities throughout the United States, fostering the adoption of eco-friendly transportation.
Investment Insights
EnviroSpark has garnered a $50 million investment to enhance its U.S. EV charging network.
Basalt Infrastructure Partners spearheaded the investment, focusing on sustainable, low-carbon infrastructure.
EnviroSpark will utilize the funds to improve both the technology and accessibility of its EV charging services.
Presently, EnviroSpark boasts more than 8,200 charging outlets across North America.
Its strategic alliances include RaceTrac, Waffle House, and Ford Dealerships.
“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark,” stated Aaron Luque, co-founder and CEO. He emphasized the investment’s role in accelerating their global mission to provide sustainable transportation solutions.
Andrew Marsden of Basalt highlighted their excitement about partnering with EnviroSpark: “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.”
Strategic Expansion and Partnerships
Leveraging prior investments, such as the $15 million from Ultra Capital in 2022, EnviroSpark has carved a robust niche in the EV market. The company’s recent tactics involve expanding its reach through collaborations with key industry titans, including IHG Hotels & Resorts and Asset Living, as well as significant automakers and governmental bodies.
Moreover, EnviroSpark has clinched National Electric Vehicle Infrastructure (NEVI) awards in Georgia and Tennessee, underlining its commitment to enhancing critical infrastructure for broader EV uptake. These initiatives, supported by the Federal government’s Bipartisan Infrastructure Law, are poised to make a significant mark on the development of EV infrastructure at strategic locales.
About EnviroSpark and Basalt
Founded in 2014 in Atlanta, GA, by Aaron and Stephanie Luque, EnviroSpark specializes in the comprehensive design, installation, and management of EV charging solutions. The company is dedicated to increasing the adoption of electric vehicles by overcoming infrastructural hurdles and promoting the advantages of EVs.
Basalt Infrastructure Partners is an infrastructure equity investment firm focusing on utilities, energy, transport, and digital infrastructure investments across Europe and North America. Since its inception in 2013, Basalt has executed over 30 infrastructure investments in these sectors.
The alliance between EnviroSpark and Basalt is set to significantly influence the landscape of EV charging infrastructure, advancing cleaner and more accessible transportation options throughout North America.