The SolarCatcher fund was launched in July 2023, in association with Gravis Capital.
See the announcement below.
Gravis Agrees UK Solar-Powered EV Infrastructure Financing
London-listed Gravis has agreed to finance a novel project to build solar-powered electric vehicle (EV) charging projects at schools and academies across the UK.
Burges Salmon, which advised on the transaction, said last week (30 June 23) that the asset manager will invest an undisclosed amount via its infrastructure investment fund in UK-based developer SolarCatcher, which is developing the project.
The project involves building solar-powered canopies to house EV charging stations in school car parks and across the public estate. When the solar panels are not being used to charge vehicles, the electricity generated can instead be used to power adjacent buildings.
Gravis will fund the majority of the construction costs of the assets, which benefit from long-term contracted and government-backed revenues.
Gravis Infrastructure FUND INVESTS IN UK CHARGING SOLUTION
London-based Gravis Capital Management is investing in a UK electric vehicle charging company.
Gravis is using its infrastructure investment fund to make the transaction, which will see the fund back SolarCatcher.
An innovative UK-based company, SolarCatcher, develops solar powered EV charging solutions, which involve a solar-powered canopy that is collocated with electric vehicle chargers.
When the solar canopy is not being used to charge vehicles, the electricity generated by the solar canopy can instead be used to power nearby buildings.
The multi-million pound debt transaction will see the Gravis fund the majority of the construction costs of SolarCatcher's first wave of projects that are set to be built at local education authority sites across the UK.
Burges Salmon (legal) advised Gravis during the deal process.
