Shell, one of the world’s largest energy providers, has
signed an agreement to buy NewMotion in a deal that will enable both companies
to accelerate the transition to low-carbon transport. Drake Star Partners acted
as the exclusive financial advisor to NewMotion’s shareholders in this
transaction.
Under the terms of the deal, NewMotion will remain focused
on accelerating its mission in Europe by delivering more innovative
smart-charging solutions to homes, businesses and public parking spaces. The
acquisition will help NewMotion enhance its electric vehicle (EV) charging
services turning more parking spaces into charging stations as well as
improving users’ charging experience across Europe.
Based in Amsterdam, NewMotion was launched in 2009 by a
group of entrepreneurs on a mission to contribute to a cleaner world. Today,
NewMotion operates more than 30,000 electric charge posts in the Netherlands,
Germany, France and the UK. It also provides access to a network of more than
50,000 public charge points across 25 European countries, serving more than
100,000 registered charge cards.
“We are very pleased
to have such a strong investor that fully supports our mission, enabling us to
further expand across Europe at a time when the transition to electric vehicles
is gathering pace,” said Sytse
Zuidema, CEO of NewMotion. He continued: “We are excited that our ongoing mission and belief in a transition
towards less-polluting transport source has been endorsed so strongly by Shell,
one of the world’s leading energy companies.”
“Today’s announcement
is an early step towards ensuring customers can access a range of refuelling
choices over the coming decades, as new technologies evolve to co-exist with traditional
transport fuels.” Shell’s Vice
President for New Fuels, Matthew Tipper, said. “This move provides customers the flexibility to charge their electric
vehicles at home, work and on the go. When you add this customer offer to our
current roll out of fast charging points on Shell forecourts, we believe we are
developing the full raft of charge solutions required to support the future of
EVs.”
Commenting on the acquisition, Frank Verbeek, Managing Partner of Drake Star Partners Netherlands,
said: “As part of the Shell New Energies
portfolio, NewMotion has a unique opportunity to expand its services to the
level of ambition the founders, shareholders, management and staff worked so
hard for. We are proud to have played our role in ensuring Dutch company
NewMotion can execute their international strategy.” Verbeek continued: “We believe that within the mobility
segment, EVs will prove to be an extremely dynamic sector with many more
companies looking for opportunities. As such, Drake Star Partners is well-positioned
to support companies operating in the ever-dynamic EV space along with their
growth ambitions.”
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