EnviroSpark Energy Solutions (EnviroSpark) has reported a major advancement in its goal to transform the environment around EV charging. A significant $50 million investment has been made by the company from funds advised by one of the top infrastructure equity investment firms in the world, Basalt Infrastructure Partners LLP (Basalt), which focuses on infrastructure in North America and Europe.
EnviroSpark will be able to quickly grow its network of EV charging stations that it owns and operates across the United States thanks to this significant investment, which will also drive innovation in cutting-edge technology and improve the accessibility and sustainability of EV infrastructure.
“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark,” remarked 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.”
Renowned for its calculated bets on low-carbon infrastructure, Basalt was thrilled to team up with EnviroSpark to propel the company’s next stage of expansion, which will see it provide long-term, sustainable EV charging solutions to clients throughout North America. Head of Energy Transition at Basalt, Andrew Marsden, highlighted EnviroSpark’s leadership in expediting the expansion of the EV-charging network at a pivotal point in the clean transportation industry’s development.
With more than 8,200 charging outlets spread throughout North America, EnviroSpark is a major force in driving the uptake of electric vehicles. Through strategic alliances and ground-breaking projects, EnviroSpark is maintaining and strengthening its position as a leader in the EV charging sector, building on the momentum from its previous $15 million fundraising round headed by Ultra Capital in 2022.
The company has forged strategic alliances with industry leaders across various sectors, including RaceTrac, Waffle House, IHG Hotels & Resorts, Ford Dealerships, HHHunt, and Asset Living. Additionally, EnviroSpark boasts longstanding partnerships with Tesla, Volkswagen, Volta (recently acquired by Shell), and Starwood Capital Group.
EnviroSpark’s dedication to driving widespread commercial and government EV adoption is underscored by its partnership with the U.S. Federal Government through the General Services Administration. The company’s recent achievements in securing National Electric Vehicle Infrastructure (NEVI) awards in Georgia and Tennessee further highlight its commitment to fostering innovation and sustainability in the EV infrastructure domain.
Selected by the Georgia Department of Transportation (GDOT) and the Tennessee Department of Transportation (TDOT), EnviroSpark will construct significant DCFC charging projects in Georgia and Tennessee, alongside installations at strategic locations including Waffle House outlets.
EnviroSpark’s vision of a future characterized by accessible and eco-friendly transportation solutions is further exemplified by its unwavering dedication to addressing critical infrastructure needs and driving sustainable innovation in the electric vehicle sector.
