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Charge Enterprises acquires Greenspeed Energy Solutions

Charge Enterprises has announced the successful acquisition of Greenspeed Energy Solutions, a leading provider of sustainable energy solutions.
By James Foster August 7, 2023 Read time: 2 mins
The acquisition enhances the auto dealership network and increases combined EV charging installation experience to over 600 chargers installed. Photo: ©Welcomia/Dreamstime
The acquisition enhances the auto dealership network and increases combined EV charging installation experience to over 600 chargers installed. Photo: ©Welcomia/Dreamstime

Founded in 2006, Greenspeed has established itself as a leading provider in the sustainable energy space, providing customers across the United States with turnkey solutions for EV charging infrastructure, efficient commercial lighting, solar, and battery storage.

With a focus on auto dealerships, the company has successfully completed over 200 auto dealership EV electrification projects across 14 states, demonstrating its expertise in this sector. Greenspeed’s comprehensive services include white glove support, consultation, equipment procurement, installation, software solutions, maintenance, warranties, and are primarily executed in-house. The company is also able to provide its customers with a subscription-based consumer payment solution to facilitate charging-as-a-service.

Greenspeed is also an installer for Georgia Power, a utility company and electricity generator. Furthermore, Greenspeed has forged a strategic alliance with the city of Brookhaven, Georgia, a suburb of Atlanta, underscoring its dedication to supporting and collaborating on various aspects pertaining to EVs. This alliance encompasses a diverse array of initiatives and projects aimed at fostering the promotion and advancement of EV adoption within the city.

The integration of Greenspeed into Charge’s organisation is anticipated to have a strategic impact on Charge’s Infrastructure segment, providing expertise and capacity to efficiently execute and deliver upon existing backlog projects. By acquiring Greenspeed, Charge obtained approximately US$12 million in project backlog, bringing the combined backlog for the Infrastructure segment to approximately US$150 million as of June 30, 2023.

The combined EV charging infrastructure installations will now total approximately 600 charging stations, consisting of 410 level 2 charging stations and 190 DCFC (level 3) charging stations. In addition, both Greenspeed and Charge have proactively installed infrastructure to accommodate additional chargers their customers purchase in the future to meet the rising demands of EV charging.

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