POD POINT GROUP HOLDINGS PLC

Related Party Transaction • Jun 30, 2023

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RNS Number : 4618E

Pod Point Group Holdings PLC

30 June 2023

30 June 2023

Pod Point Group Holdings plc ("Pod Point" or the "Group")

Partnership with UK Power Networks LTD (UKPN)

Pod Point, one of the UK's market leading providers of Electric Vehicle ("EV") charging solutions, today announces that it has signed a partnership agreement with UK Power Networks, the UK's largest Distribution Network Operator (DNO), serving 8.3 million homes and businesses across London, the South East and East of England. 

The agreement will see Pod Point provide flexibility services to UK Power Networks by adjusting EV charging schedules to better match renewable generation. With user permission, Pod Point will schedule EV charging away from peak periods helping to balance the grid, while ensuring cars are charged when needed.

The partnership follows the launch of Pod Point's new Grid business unit led by Pilgrim Beart, founder of AlertMe, the company behind British Gas' Hive product. Alongside helping customers reduce energy costs and carbon emissions, the Grid business unit will be developing recurring revenue streams from across Pod Point's growing network of over 200,000 connected charge points, and the UKPN partnership represents one of the first tangible points of progress towards this exciting recurring income opportunity.

Pod Point, as a leading provider of EV charging infrastructure with over 1GW of EV charging capacity on its platform is well positioned to deliver flexibility services to electricity distributors and is exploring further grid-side partnerships. Earlier this month, Pod Point partnered with Axle Energy, an energy flexibility startup connecting EVs to electricity markets to help keep power generated from fossil fuels off the grid.

Enquiries

Teneo (Public Relations advisor to Pod Point)	+44 207 353 4200 podpoint@teneo.com
Mark Burgess, Matt Low, Arthur Rogers

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