French energy giant EDF Energy has bought UK electric vehicle charging and battery storage start-up Pivot Power as it continues its push into the renewables sector.
The move will allow state-owned EDF, which is already the biggest low carbon electricity producer in the UK, to push into the battery storage market.
Pivot Power is planning to install its batteries, which are directly connected to the high-voltage transmission sites, at more than 40 locations across the UK.
Each project will host a 50 megawatt battery and will support hundreds of rapid electric vehicle chargers, making it well suited to large retail sites, bus depots and park and rides.
A spokesperson for the company said the deal price was not being disclosed at this point.
The purchase follows the acquisition of another electric vehicle charging start-up, California-based PowerFlex Systems, in September.
Bruno Bensasson, chief executive of EDF Renewables, said:
“Following PowerFlex Systems recent acquisition in the United States, this new acquisition of smart electricity storage and electric vehicle charging systems player is strengthening our expertise globally.”
Matt Allen, co-founder and chief executive of Pivot Power, said:
“Pivot Power’s purpose from the start has always been to accelerate the UK’s transition to a cost-effective, reliable, low-carbon energy system and in parallel fast-track the rapid adoption of clean transport.
“EDF Renewables shares our vision and of course brings the expertise, resources and platform to make this a reality.”
Last week Sky News revealed that EDF was in talks concerning the acquisition of another start-up, Pod Point.
Both parties refused to comment on the claims, but Pod Point founder Erik Fairbairn said: “Pod Point regularly explores different ways to finance its expansion and fund its national network of charging points.”
The acquisition of Pivot Power was EDF Energy’s third purchase since setting up a dedicated distributed energy and storage business in the US in 2017.
Fellow European big hitters such as Italy’s Enel and France’s Engie have also been acquiring electric vehicles and technologies.
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