Solareff sells its majority shareholding in GridCars
Renewable-energy group Solareff has sold its majority shareholding in electric vehicle (EV) charging network operator GridCars.
Solareff says this means that the company will also step back from its operational role in GridCars.
GridCars CEO Winstone Jordaan says the new investor prefers to remain in the background for now, but adds that he has been given the mandate to continue growing the business.
Solareff delivers distributed generation solutions through microgrids and battery energy storage systems. The group is currently working on advancing its energy-as-a-service model in an evolving energy market.
Solareff partnered with GridCars in 2017, when the company pioneered the first off-grid EV chargers as well as the first highway-linked EV charging network in South Africa.
“Our decision to exit GridCars aligns with our strategic vision of delivering future-focused energy,” says Solareff CEO Jaco Barnard.
“GridCars is at the right stage to be escalated as a business and be refuelled for its next chapter.
“We are confident that the new partner will continue to build on the solid foundation established by GridCars and accelerate the deployment of EV infrastructure across South Africa.”
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