Shell buys European electric car charging firm ubitricity

The deal, which is subject to regulatory approval, will give Shell ownership of the biggest public EV charging network in Britain with more than 2,700 charge points.

Shell -Shell -Energy News Beat

BERLIN — Oil and gas giant Shell is buying ubitricity, a major provider of electric vehicle charging points in Europe.

Shell said Monday that it would buy a 100% stake in the Berlin-based startup, without disclosing the price.

“The move represents a further step in Shell’s efforts to support drivers as they switch to lower-carbon transport,” the company said.

The deal, which is subject to regulatory approval, will give Shell ownership of the biggest public EV charging network in Britain with more than 2,700 charge points.

Ubitricity also has smaller public networks in Germany and France, and has installed over 1,500 charge points for fleet customers across Europe.

The company’s focus has been to integrate charge points into existing street infrastructure such as lamp posts, to reduce the cost of laying new power lines down streets.

Experts say easier access to charging facilities is key to the successful rollout of electric vehicles.

Shell has said it wants to achieve net zero emissions by 2050 or sooner.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.