Hitachi Capital UK Takes Multi Million Share In Leading UK Green Energy Firm GRIDSERVE

Monday 11th January 2021

11 January 2021: Hitachi Capital (UK) PLC today announces a £10m investment in GRIDSERVE Holdings Limited, the parent company of GRIDSERVE Sustainable Energy Ltd as the firms strengthen their partnership following the successful launch of the UK’s first ultra-fast Electric Forecourt®.

The £10m investment in GRIDSERVE, reflects Hitachi Capital UK’s commitment to, and confidence in the business. Over the course of 2020 Hitachi Capital UK has funded over £24m in GRIDSERVE projects, including funding to help deliver the completion of the Braintree Electric Forecourt®.

The latest investment by Hitachi Capital UK is aligned to its wider vision of financially supporting projects that go towards delivering a net zero carbon economy.

Hitachi Capital UK’s partnership with GRIDSERVE aims to revolutionise the UK’s approach to solar energy and create the infrastructure to accelerate the adoption of electric vehicles.  Over the next five years, GRIDSERVE will build more than 100 Electric Forecourts® across the UK, delivering fast, ultra-convenient and reliable charging for EVs.

Hitachi Capital UK’s partnership with GRIDSERVE also encompasses the UK’s first net zero electric vehicle leasing business, which is designed to bring the cost of driving electric vehicles powered by net zero carbon energy well below that of petrol or diesel cars, and simultaneously minimise the environmental impact of EVs.

Robert Gordon, CEO of Hitachi Capital (UK) PLC, said:

“Our collaboration with GRIDSERVE to deliver sustainable energy marks a breakthrough in delivering the world class infrastructure the UK needs in order to accelerate electric mobility.

“Combining our financial strength and motor industry expertise with GRIDSERVE’s leading renewable energy work is a perfect partnership to create a new revolutionary green energy future. Our intention is to become a market leader for EV adoption and today’s announcement, along with our commitment that 20% of our assets will support sustainable business projects over the next five years, shows our determination to deliver on that promise.”

Toddington Harper, CEO of GRIDSERVE Sustainable Energy Ltd, commented:

“Having Hitachi Capital (UK) PLC as a shareholder in GRIDSERVE represents a major milestone and landmark moment in GRIDSERVE’s journey to deliver sustainable energy and move the needle on climate change.

“Delivering the UK’s first Electric Forecourt® with net zero carbon energy provided by Clayhill Solar Farm, as well as launching the UK’s first net zero leasing business, is testament to the results and benefits we can deliver through our partnership, and we look forward to delivering many more Electric Forecourts® and sustainable energy projects together in the months and years ahead.”

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About Hitachi Capital

Hitachi Capital (UK) PLC is a leading financial services company with over 35 years’ experience in providing innovative finance solutions to enable consumers, SMEs, fleet owners, motor dealers and retailers to grow and prosper. Hitachi Capital (UK) PLC has over 1,500 employees, £5.9bn of net earning assets and over 1.4 million customers across its five business units; Consumer Finance, Vehicle Solutions, Business Finance, Invoice Finance and European Vendor Solutions.

Hitachi Capital (UK) PLC is a wholly owned subsidiary of Hitachi Capital Corporation, one of Japan’s largest non-bank financial institutions. Hitachi Capital Corporation is an affiliate of both Hitachi Ltd, a world leader for manufacturing and technology, and Mitsubishi UFJ Financial Group Inc. Manufacturing continues to be a key part of Hitachi Capital (UK) PLC’s DNA, delivering complex products to high levels of customer satisfaction.

About GRIDSERVE Sustainable Energy Ltd

GRIDSERVE’s purpose is to deliver sustainable energy and move the needle on climate change. We are at the forefront delivering the transition to a net zero carbon economy by developing, building, owning and operating solar energy and battery storage solutions for critical power infrastructure, together with a net zero carbon leasing business in partnership with Hitachi Capital (UK) PLC. GRIDSERVE’s team have been responsible for the development, construction and operation of more than a gigawatt of solar energy and energy storage solutions, including connecting over 100 utility-scale sustainable energy projects to the UK grid. GRIDSERVE is interested in exploring new electric vehicle charging and sustainable energy opportunities, including new hybrid solar farms and Electric Forecourts®