BP acquires UK’s Chargemaster

chargemaster

BP said it has acquired Chargemaster, the country’s operator of the UK’s largest EV charging network and the leading supplier of EV charging infrastructure.

The company said in a statement that the acquisition is an important step in scaling up and deploying a fast and ultra-fast charging network on BP’s UK forecourts.

As part of the acquisition agreement, Chargemaster is to be rebranded BP Chargemaster.

The company’s business is a bit diversified. Chargemaster also designs, builds, sells and maintains EV charging units for a wide range of locations, including for home charging.

Tufan Erginbilgic, chief executive, BP Downstream, said: “Bringing together the UK’s leading fuel retailer and its largest charging company, BP Chargemaster will deliver a truly differentiated offer for the country’s growing number of electric vehicle owners.

“At BP we believe that fast and convenient charging is critical to support the successful adoption of electric vehicles. Combining BP’s and Chargemaster’s complementary expertise, experience and assets is an important step towards offering fast and ultra-fast charging at BP sites across the UK and to BP becoming the leading provider of energy to low carbon vehicles, on the road or at home.”

Founded in 2008, Chargemaster runs POLAR, the largest public charging network in the UK. The POLAR network now includes over 6,500 public charging points. The company has over 40,000 customers of its POLAR network, of which an increasing number choose to pay a monthly subscription, and the remainder access on a pay-as-you-go basis. Chargemaster is also a leading supplier of home charging points across the UK and has strong links with car manufacturers, as the charging partner for a number of car brands in the UK.

David Martell, Chief Executive of Chargemaster said “The acquisition of Chargemaster by BP marks a true milestone in the move towards low carbon motoring in the UK. I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national POLAR charging network to support the large range of exciting new electric vehicles that are coming to market in the next couple of years.”

Upon completion of the transaction, Chargemaster employees will continue to be employed by BP Chargemaster or its subsidiaries. BP Chargemaster will operate as a wholly-owned BP entity.