Energy giant invests in ChargeNet
ChargeNet plans to fast-track the expansion of its network of electric-vehicle (EV) chargers after selling a 20 per cent stake of the business to a Swiss energy giant.
Steve West, ChargeNet chief executive officer, says Mercuria’s investment provides it with the capital required to accelerate its growth strategy to help meet a predicted increase in EV numbers.
He co-founded the company in 2015 with his wife, Dee, and it has built up a network of 270 rapid-charging stations across the country.
West, pictured, notes the Mercuria deal of undisclosed value will help to “rapidly scale up our existing network and fast-track the expansion of our hyper-rapid charging stations”.
“The investment by Geneva-based Mercuria, a US$100b (NZ$140b) revenue company with a global presence in over 54 countries, underpins our ambition to deliver world-leading EV charging infrastructure and innovative software technology to support a substantial increase in electric vehicle use around the country,” he says.
He describes the 300kw hyper-rapid charging stations it offers as a game-changer for motorists as they can offer 400km of range in 15 minutes and provide charging for up to six vehicles at one site.
West adds Mercuria’s support will also provide ChargeNet with a pathway to extend its global reach and drive growth in other countries.
Jean-Francois Steels, Mercuria’s vice-president energy transition and emissions trading, says the investment is in line with its commitment to become a key player in the energy transition.
“We strongly believe ChargeNet is uniquely positioned to support EV adoption across New Zealand and the Asia-Pacific region,” he adds.
“We see a tremendous opportunity to combine the strength of both our companies and for Mercuria to further support ChargeNet’s growth plans by contributing our experience and expertise in electricity and carbon markets and by giving ChargeNet access to Mercuria’s global network, notably in Asia and the Middle East.”
As part of the investment, Mercuria will appoint New Zealand-based Julian McCree as its representative on the ChargeNet board to help in building the business and driving its local and global expansion plans.
