EnviroSpark announces $50 million in funding, spearheaded by Basalt
Infrastructure Partners, to propel clean transportation
infrastructure growth
ATLANTA, May 1, 2024
/PRNewswire/ -- National electric vehicle (EV) charging
company EnviroSpark Energy Solutions ("EnviroSpark" or the
"Company") announced it has secured a $50
million investment by funds advised by Basalt Infrastructure
Partners LLP ("Basalt"), a leading mid-market infrastructure equity
investment firm focusing on investments in Europe and North
America. This investment will fuel EnviroSpark's mission to
revolutionize the EV charging landscape, enabling the Company to
rapidly expand its owned and operated network across the US,
innovate its cutting-edge technologies and further enhance the
accessibility and sustainability of EV infrastructure.
Building upon the momentum of its $15M funding round led by Ultra Capital in 2022,
Georgia-based EnviroSpark has
established itself as a key player in the EV charging market. With
a broad footprint of over 8,200 charging plugs across North
America, the Company is well-positioned to further advance the
adoption of electric mobility.
"Securing this substantial funding milestone marks a pivotal
moment for EnviroSpark," said Aaron
Luque, co-founder and CEO of the Company. "With strategic
support from Basalt, we are poised to accelerate our mission of
fostering sustainable transportation solutions. This investment not
only fuels our expansion efforts but also reinforces our commitment
to making electric mobility accessible and convenient for all."
"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,"
said Andrew Marsden, Basalt's Head
of Energy Transition. "EnviroSpark's industry leading team is
accelerating the build out of the EV-charging network across
North America at this pivotal time
for the clean transportation sector and we are proud to be sharing
in their mission."
EnviroSpark continues to solidify its position as a leader in
the EV charging industry through strategic partnerships and
innovative initiatives. The Company has recently cultivated
strategic partnerships with industry leaders across various
sectors, including RaceTrac, Waffle House, IHG Hotels &
Resorts, Ford Dealerships, HHHunt, and Asset Living. In addition to
longstanding partnerships with Tesla, Volkswagen, Volta (recently
acquired by Shell), and Starwood Capital Group, the company has
also partnered with the U.S. Federal Government through the General
Services Administration, which underscores EnviroSpark's dedication
to driving widespread commercial and government EV adoption by
addressing critical infrastructure needs.
EnviroSpark also acknowledges its recent achievements in
securing National Electric Vehicle Infrastructure (NEVI) awards in
Georgia and Tennessee. Selected by the Georgia Department
of Transportation (GDOT), EnviroSpark will construct significant
DCFC charging projects in Tifton
and Metter, Georgia, alongside
installations at a Waffle House in Lakeland, Tennessee, chosen by the Tennessee
Department of Transportation (TDOT). These awards funded by the
Federal government through the Bipartisan Infrastructure Law
further exemplify EnviroSpark's commitment to fostering innovation
and sustainability in the electric vehicle infrastructure domain,
driving towards a future of accessible and eco-friendly
transportation solutions.
About EnviroSpark Energy Solutions
Founded in Atlanta GA by
Aaron and Stephanie Luque in 2014,
EnviroSpark is an industry leader in the turnkey design,
installation and operation of EV charging solutions. The company
was founded with two missions: to raise awareness around the
benefits of electric vehicles and to build a more robust EV
charging infrastructure. Responsible for more than 8,200
installations of charging plugs across North America to date, EnviroSpark addresses
the pain points of property owners and drivers by enhancing EV
accessibility in customer-friendly ways. Visit
www.envirosparkenergy.com for more information.
About Basalt Infrastructure Partners
Basalt is an
infrastructure equity investment firm focusing on investments in
utilities, energy, transport and digital infrastructure in
Europe and North America. Funds advised by Basalt have
made over 30 infrastructure investments in Europe and North
America since 2013. For more information on Basalt please
visit www.basaltinfra.com
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SOURCE EnviroSpark