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article imageShell to buy leading electric vehicle charging provider NewMotion

By Karen Graham     Oct 12, 2017 in Technology
Amsterdam - One of the world's largest fossil fuel companies, Royal Dutch Shell, has signed an agreement to purchase Amsterdam, Netherlands-based NewMotion, one of Europe's largest electric vehicle charging providers.
Drake Star Partners, acting as the exclusive financial advisor to NewMotion’s shareholders in this transaction, said the deal will enable both companies to accelerate the transition to low-carbon transport.
According to CTV News Canada, NewMotion will become a wholly-owned subsidiary of Royal Dutch Shell. NewMotion operates more than 30,000 charging stations in the Netherlands, Germany, France and the UK. The company 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.”
Big oil forced to take another look at clean energy
The move by Shell in such an obvious direction is further proof that many petroleum companies are looking to the future and the growth of electric vehicles and decline of gasoline and diesel-powered cars and trucks.
"This is a way of broadening our offer as we move through the energy transition," Matthew Tipper, Shell's vice president of new fuels, told CNNMoney in an interview. "It's certainly a form of diversification."
And as CNNMoney points out, Royal Dutch Shell, BP, and Total have been far quicker than their rivals in the United States to embrace renewable energy sources such as solar, wind and electric car charging. After all, NewMotion's mission is very clear: They want to "contribute to a cleaner world by eradicating fossil fuels."
NewMotion CEO Sytse Zuidema said the deal will aid in speeding up his company's growth by giving it access to Shell's vast Rolodex of corporate clients and industry contacts. "We are here not to fuel cars with petrol, but with electricity," Zuidema said.
Royal Dutch Shell
Shell has its headquarters in the Netherlands, a country where electric vehicles are very popular already. "We feel closer to it," said Tipper. "The degree to which electrification is changing mobility is very, very apparent here. It leads to this mindset."
“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," Frank Verbeek, Managing Partner of Drake Star Partners Netherlands said, commenting on the deal.
NewMotion was founded in 2009 by a group of entrepreneurs with extensive experience in the technology and telecommunication sectors. They have spent the past nine years designing, installing and managing smart charge points and services, as well as charge networks.
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