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The Electric Highway was launched by Ecotricity in 2011 to enable early electric cars to drive the length and breadth of Britain. This new collaboration with GRIDSERVE will help transform electric vehicle charging facilities on Britain's motorways and major roads through the use of new technology and rollout of additional high power chargers, and work is already underway.
GRIDSERVE has taken a 25 percent stake in the Electric Highway and also bring their front and back-office technology and expertise to the upgraded network, which will also have 247 support. Funding for the program is being provided by Hitachi Capital (UK) PLC, also a shareholder in GRIDSERVE.
TLT advised Ecotricity on the corporate aspects of the sale and shareholder arrangements, as well as the funding aspects, construction contracts, commercial services arrangements, employment and IP matters.
The team, led by partner Kay Hobbs, involved a team of over 60 lawyers from numerous disciplines across TLT including Nick Rains (corporate), Stuart Urquhart, Nick Pincott and Emma Davies (commercial), Gary Roscoe (banking), Mark Braude (tax) and Esther Smith (employment).
Kay Hobbs, corporate partner at TLT, says:
“We are delighted to have been involved in bringing this partnership together and this is a key deal for the sector given the inevitable transition to electric vehicles. The Electric Highway, as Europe’s first nationwide charging network, has always been trailblazing and this partnership is going to see it move to the next level.
“It’s been a pleasure to work with both Ecotricity and GRIDSERVE to help bring this to fruition and I hope that this forward-thinking partnership encourages the wider rollout of charging infrastructure so desperately needed in this country.”
Tom Cowling, Director and General Counsel at Ecotricity, says:
"The outwardly straight-forward appearance of this fantastic new partnership with GRIDSERVE belies the numerous and intricate legal and commercial complexities all parties had to navigate behind the scenes. Kay and her team at TLT made the complex look simple.
Elspeth Vincent (Ecotricity's Head of Legal) and I are immensely grateful for TLT's expertise, commercial focus and sheer hard work in helping make this happen."
12 March 2021