InstaVolt Sells Iberian EV Charging Operations to Powerdot

InstaVolt has completed the sale of its EV charging activities in Spain and Portugal to Powerdot, marking a strategic shift in the company’s European expansion plans.

The agreement covers InstaVolt’s Iberian charging network as well as the employees connected to the business in both countries. Powerdot will take over the continued development of the network across Spain and Portugal, while InstaVolt redirects resources toward growth in the UK and Ireland.

The sale comes after a period of significant financial and strategic activity for InstaVolt. The company recently secured £250 million in debt refinancing and a further £40 million equity investment, backed by shareholder EQT and a group of lenders. It also expanded its UK footprint through the acquisition of GeniePoint, adding more than 228 locations and over 260 charging devices to its network.

InstaVolt entered the Iberian market in 2023 and has since built a presence across Spain and Portugal. According to the company, the decision to sell the business follows interest from several strategic parties and supports its long-term plan to concentrate investment where it sees the strongest near-term opportunities.

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.”

InstaVolt said its UK and Ireland strategy will include continued investment in ultra-rapid charging infrastructure, battery energy storage systems, renewable energy generation, and next-generation charging technology. The company is also progressing with new flagship charging destinations, including an ultra-rapid charging superhub at Chicklade on the A303, and the deployment of BYD chargers with 240kW charging capability.

With more than 1,200 UK locations secured and partnerships with brands including McDonald’s, Costa Coffee, Starbucks, British Land, and LondonMetric, InstaVolt aims to strengthen its position in the UK’s ultra-rapid charging market while Powerdot advances the next phase of the Iberian network.

Source