Yorkshire EV charge point operator raises £250m to accelerate installation plan

A Yorkshire electric vehicle (EV) charge point operator has raised £250m to accelerate its installation plan.

RAW Charging is one of the largest UK electric vehicle charge point operators focused on destination charging. The raise was funded by Antin Infrastructure Partners, a private equity firm focused on infrastructure investments and forms part of Antin’s wider deployment of capital in EV charging across Europe.

In order to meet the huge demand for public chargers, RAW is operating in the underserved, high-growth destination EV charging marketplace and expects to have over 1,000 charging points operating by December 2022.

The company has established a network of EV charging infrastructure assets to enable EV drivers to charge their vehicles at their destinations, typically at workplace, leisure facility or transport hub carparks.

Bruce Galliford, CEO, RAW Charging, said: “We are delighted and excited to have found the right partner in Antin for the next stage of our development. With the fantastic growth over the last four years, thanks to the hard work of the brilliant RAW team, it is perfect timing to move on to the next stage with Antin joining us on the journey.

“The market for destination charging is growing and supported by policy in both the UK and Europe. We believe our business model is perfectly placed to generate captive returns for our investors from a large portfolio of EV assets and we look forward to continuing to deliver on our growth plans.”

Rodolphe Brumm, NextGen Partner at Antin, commented: “This new investment signals Antin’s strong commitment to advancing the use of electric vehicles, thus contributing to reducing carbon emissions.

“We firmly believe the private sector, alongside government, will play a key role in realising the UK’s ambitious electric vehicle infrastructure strategy, which includes the aim to reach 300,000 public EV charge points by 2030.

“We look forward to working with RAW’s management team to help transition the UK transport sector to low carbon by the decade’s end in line with our NextGen strategy.”

Jonathan Turner, CEO, Bayford Group, added: “We are pleased to have Antin join Bayford as an investor for the next stage of RAW’s growth. Bayford, alongside Antin and the Board of Directors, are excited for the opportunities ahead as RAW delivers on this once-in-a-generation electric vehicle charging opportunity.”

Bryan Cave Leighton Paisner acted as legal advisor to RAW and its current shareholders, with Longspur Capital acting as their financial advisor.

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