EQT to acquire InstaVolt from Zouk Capital

EQT announced in February 2022 that it would acquire InstaVolt from Zouk Capital, with the deal intended to support a rollout of 10,000 rapid electric vehicle chargers by 2032¹. InstaVolt, which describes itself as the largest fully public owner-operator of rapid DC charging stations in the UK, was founded at the end of 2016¹.

By the end of April 2023 the network had grown to more than 1,100 rapid charging stations across more than 500 sites, with over 500 further chargers under contract to be built in the following months¹. InstaVolt's chargers deliver high-powered DC charging at 50kW to 120kW, and the company said it would deploy a next generation of units capable of up to 160kW later in 2023¹. Its chargepoints run on 100 per cent renewable energy, and payment is by contactless card, fleet RFID or an Octopus Electrocard or app¹.

Asked how the rollout was progressing, InstaVolt chief executive Adrian Keen said the company had passed 1,000 rapid chargers earlier in the year and had a pipeline of partnerships that put it well on the way to the 10,000 target¹.

"EQT has been incredibly supportive of our goals and ambitions and is aligned with the management team to achieve these. We're also ramping up operations in four new European markets, Ireland, Iceland, Spain and Portugal."

The company also said it works with its hardware partner BYD on design changes, including changes to comply with the PAS1899 accessibility guidance, and that it employs a nationwide team of its own service engineers rather than relying on third-party service agreements¹. It said it began installing two or more chargers per site in 2016, when only Tesla did the same, and that it now sees demand for hubs of eight or more chargers with driver amenities¹.

InstaVolt has since joined the Octopus Electroverse network, which allows drivers to start a charge through that app or card¹. The interview does not give a completion date for the EQT acquisition, a transaction value, or a breakdown of where the 10,000 chargers will be sited; those details have not been reported¹.

Why it matters for households

Rapid public charging is the part of the electric vehicle system that sits outside the home, and its density and reliability shape whether a household can run an EV without a driveway or off-street parking. A larger rapid network reduces reliance on any single site and shortens the detours needed to charge, which matters most for drivers who cannot charge at home overnight. InstaVolt's stated focus on reliability, its own engineers and held spare parts is aimed at the downtime that makes public charging unpredictable¹. The commitment that chargepoints run on 100 per cent renewable energy also bears on the emissions case for switching, though the source does not set out how that supply is sourced or verified¹. For homes that already have off-street parking, the significance is more indirect: a denser rapid network supports longer journeys, while home charging remains the cheaper option for routine mileage. The EV charging hub covers the wider picture on public and home charging.

What happens next

The 10,000 charger target is dated to 2032¹. InstaVolt said the 160kW chargers would be deployed later in 2023 and that it was ramping up operations in Ireland, Iceland, Spain and Portugal, without giving dates for those markets¹. No completion date for the EQT acquisition has been reported¹.

Sources1 cited

1. Charged: 15 questions with... InstaVolt, electroverse.com