IMPROVED advises EnviroSpark on the $50mn investment from Basalt Infrastructure Partners

  • Date May 2nd, 2024
  • Transaction type Growth Financing
  • Sector Energy
  • Sub Sector Electric Vehicle Charging and Energy Management Solutions
Further Info

US-based Electric Vehicle (EV) charging company EnviroSpark Energy Solutions (“EnviroSpark” or the “Company”) announced it has secured a $50 million investment by Basalt Infrastructure Partners (“Basalt”), a leading mid-market infrastructure equity investment firm focusing on investments in Europe and North America.

This investment will fuel EnviroSpark’s mission to revolutionize the EV charging landscape, enabling the Company to rapidly expand its owned-and-operated network across the US, innovate its cutting-edge technologies, and further enhance the accessibility and sustainability of EV infrastructure.

IMPROVED acted as the exclusive financial advisor to EnviroSpark in this transatlantic transaction. We supported the EnviroSpark team in securing an optimal growth partnership with Basalt, leveraging our in-depth expertise and extensive global network that we have built up through our unmatched track record of cross-border landmark transactions in the EV charging and Energy sectors.

“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark. With strategic support from Basalt, we are poised to accelerate our mission of fostering sustainable transportation solutions. This investment not only fuels our expansion efforts but also reinforces our commitment to making electric mobility accessible and convenient for all.”

Aaron Luque

Founder and CEO , EnviroSpark

“As part of our strategy to invest in compelling scale-up opportunities in low carbon infrastructure, Basalt is delighted to be partnering with EnviroSpark to help drive their next phase of growth in delivering long-term sustainable EV charging solutions to customers across North America. EnviroSpark’s industry-leading team is accelerating the build-out of the EV-charging network across North America at this pivotal time for the clean transportation sector and we are proud to be sharing in their mission.”

Andrew Marsden

Head of Energy Transition, Basalt

“This transaction underscores EnviroSpark’s robust fundamentals and fantastic growth positioning in the huge market for EV charging infrastructure across the United States. As exclusive financial advisors on this transatlantic deal, we are proud to have facilitated a partnership that promises to advance the accessibility and efficiency of EV charging. We extend our congratulations to both the EnviroSpark and Basalt teams and look forward to their continued success and innovation in the sector.”

Daniel Lyons

Managing Director, IMPROVED