Chargepoint operator (CPO) GRIDSERVE has announced EBITDA of £26m across its network and £3m overall, reaching positive territory for the first time.
Against what it described as a “challenging policy environment”, and following the reports that the ZEV Mandate could be further diluted, the CPO said it had achieved 45% year-on-year growth as it “continued to demonstrate the strength and scalability of its model and the commercial viability of large-scale public EV charging in the UK”.
It follows a focus on its core EV charging operations and “streamlining the portfolio and strengthening commercial performance across the network”, under CEO Daniel Kunkel.
The CPO has invested specifically in charging speed, network resilience and emerging segments such as electric heavy goods vehicles (eHGVs), it added.
It now spans more than 1,600 ultra-rapid charging bays (up 19% year-on-year) across over 200 locations on the UK’s strategic road network, secured through long-term agreements.
New sites are being developed across the Moto, Roadchef & Extra MSA networks, and a further Electric Forecourt due to open at Markham Vale, off the M1 in summer 2026. GRIDSERVE also plans to add 500+ ultra-rapid charge points across the strategic road network during the year, it said.
The CPO is backed by long-term investors TPG Rise Climate and Infracapital to accelerate the next phase of its growth, supporting “the government’s ambitions to scale the best of British industry”, it concluded.
Daniel Kunkel, CEO of GRIDSERVE, said:
“This strong set of results demonstrates the commercial strength of our platform at a time when EV adoption and demand are accelerating across the UK. We continue to build a network that drivers trust and rely on, providing a leading customer experience that delivers convenience.
“It’s more important than ever that the EV infrastructure investment is supported by a stable long-term framework from the government. We remain committed to playing our part in supporting this transition, and we are keen to engage with government on how we can collectively accelerate EV adoption, support UK growth, and build the infrastructure the country needs.”
Andy Matthews, Chief Investment Officer at Infracapital, GRIDSERVE co-shareholder, said:
“GRIDSERVE’s strong results this year mark a defining moment – not just for the business, but also for EV charging as an asset class. Achieving EBITDA positivity at scale demonstrates how long-term, patient capital can drive commercial returns while addressing a critical national need.
“We remain committed to supporting the management team as it continues building the backbone of the UK’s clean transport network.”
Jamie Gilbert, Business Unit Partner at TPG Rise Climate, said
“Having seen GRIDSERVE’s momentum firsthand for over five years, we’re encouraged by the business’s growing financial strength and are excited to continue to invest in growing the network. These results underscore the increasing demand for reliable, high-quality EV charging infrastructure.”
Image courtesy of GRIDSERVE
