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Hitachi Capital UK has announced a £10million investment in EV charging firm Gridserve.
Hitachi says the investment, in parent company Gridserve Holdings Limited, reflects its confidence in the business, having funded over £24million in Gridserve projects last year, including the completion of the ultra-fast Electric Forecourt at Braintree in Essex.
Gridserve plans to build more than 100 Electric Forecourts over the next five years, and the Hitachi partnership also includes its new zero EV leasing business.
Hitachi Capital UK CEO Robert Gordon 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."
Gridserve Sustainable Energy CEO Toddington Harper said: "Having Hitachi 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."