EnviroSpark Energy Solutions, which runs a network of charging stations for electric vehicles, has raised $50 million from London’s Basalt Infrastructure Partners. In 2022, the Atlanta, Ga., startup raised $10 million in a round led by Philadelphia-based Ultra Capital.
“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark,” said co-founder and CEO Aaron Luque, who previously founded the healthcare recycling firm Remetco. “With strategic support from Basalt, we are poised to accelerate our mission of fostering sustainable transportation solutions.”
Turnkey Design
The company plans to use the funds to expand its charging network, besides fostering more innovation. Co-founded in 2014 by the husband-wife duo of Aaron and Stephanie Luque, EnviroSpark offers turnkey design, installation and operation of EV charging solutions.
Aaron holds a BS degree from Georgia Tech, and an MBA from the University of Georgia. In 2023, he was listed among Atlanta’s Most Admired CEOs by the Atlanta Business Chronicle. Stephanie serves on the company’s board and oversees government business. Previously, she served the Department of State in the United States Embassy in San Jose, Costa Rica. Stephanie has an MS degree in public policy, and a BS degree in International Affairs and Modern Language, both from Georgia Tech.
Under strategic partnerships with leading makers of electric vehicles, hotel and mall operators, and power utilities, EnviroSpark runs over 8,200 charging stations across the United States. Its partners include Tesla, Volkswagen, Volta (acquired by Shell), Starwood Capital Group, RaceTrac, Waffle House, IHG Hotels & Resorts, Ford dealerships, HHHunt, and Asset Living.
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EnviroSpark has also won National Electric Vehicle Infrastructure contracts in Georgia and Tennessee. These awards, funded by the federal government through an infrastructure law, are for building accessible and eco-friendly transportation solutions. Additionally, the company works with the federal hovernment through the General Services Administration. EnviroSpark is one of 10 vendors selected to participate in a $500 million GSA allocation for electrification of the federal fleet across the southeast United States.
“EnviroSpark’s industry leading team is accelerating the build-out of the EV-charging network across North America at this pivotal time for the clean transportation sector and we are proud to be sharing in their mission,” said Andrew Marsden, Basalt’s Head of Energy Transition, adding that the investment aligns with his firm’s strategy to invest in “compelling” opportunities in low-carbon infrastructure in Europe and North America/
London-headquartered Basalt is an infrastructure equity investment firm focusing on investments in utilities, energy, transport and digital infrastructure in Europe and North America. Funds advised by Basalt have made over 30 investments in Europe and North America since 2013.
