Geneva, Switzerland – 2 October 2024 – Mercuria announced the sale of its stake in ChargeNet, New Zealand’s leading electric vehicle (EV) charging network, to Genesis Energy (NZX: GNE), a major incumbent energy provider in New Zealand. This transaction marks another significant milestone for Mercuria as part of its ongoing commitment to accelerating the global energy transition.
Mercuria’s investment in ChargeNet has been integral to developing a robust and scalable EV infrastructure in New Zealand. ChargeNet founders established New Zealand’s largest nationwide EV Charging Network in 2015 and have since led the industry in fast charging and innovation. Mercuria’s investment in 2021 provided growth capital that accelerated ChargeNet’s nationwide network rollout. Genesis will now lead the continued expansion of ChargeNet’s infrastructure and operations, leveraging its resources and balance sheet to meet growing demand for electric vehicle charging.
“We are excited to see an asset like ChargeNet reach the stage where a major player like Genesis Energy recognizes its value and is willing to fully support its long-term growth,” said Brian Falik, Chief Investment Officer of Mercuria. “This transaction demonstrates Mercuria’s role in the energy transition—helping innovative companies transition from development to becoming established infrastructure assets owned by long-term operators. We are proud of what we have accomplished with ChargeNet and will continue to support similar initiatives globally.”
Mercuria has a proven track record of fostering early-stage energy transition ventures and helping them evolve into sustainable and scalable businesses. By focusing on renewable energy and sustainable infrastructure, Mercuria continues to play a key role in building the future of energy globally.
Genesis Energy’s investment in ChargeNet aligns with its commitment to accelerating New Zealand’s transition to electric transportation. Genesis Energy’s investment in ChargeNet aligns with its commitment to support customers to electrify their lives
Mercuria will continue to actively pursue similar opportunities, focusing on developing and growing companies that contribute to the global energy transition.
Established in 2004, Mercuria is one of the world’s largest independent energy and commodity groups, bringing efficiency to the commodity value chain with technology, expertise, and low-carbon solutions. The company established itself as a leader in the energy transition by pledging more than 50 percent of new investments toward renewables and transitional energy. The Group has made significant investments in projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling and environmental products.
###
Media Contact:
Name: Matthew Lauer
Tel: +41 22 594 7000
Email: communications@mercuria.com
Simply add your email to receive news updates from Mercuria. You can unsubscribe at any time.
Our team of specialists can provide the optimal solutions to help your business navigate the energy transition.
