UK-based ultra-rapid EV charging network InstaVolt has agreed to sell its business operations, charging network and associated employees in Spain and Portugal to European EV charging provider Powerdot, redirecting capital to its core UK and Ireland markets, as reported by EV Infrastructure News.

The financial terms of the transaction have not been disclosed. InstaVolt said the sale followed significant interest from a number of strategic parties, and that Powerdot was selected as the buyer to enable InstaVolt to concentrate on its core markets. InstaVolt has operated in Spain and Portugal since 2023.

For France-headquartered Powerdot, the acquisition is its first major transaction and positions the company as a consolidator in the European EV charging sector, where a wave of network mergers and acquisitions has accelerated as the market matures and operators seek scale.

The divestment follows a period of significant activity for InstaVolt in the UK. The company recently acquired 228 charging locations from Equans-owned GeniePoint Network, bringing its total UK site count past 1,000. InstaVolt is backed by shareholders EQT and recently completed a £250 million ($333 million, approximately €306 million) debt refinancing alongside a £40 million (approximately €46 million) equity investment.

Delvin Lane, CEO of InstaVolt, said the sale agreement with Powerdot enables InstaVolt to recycle capital into its core UK and Ireland markets, accelerating both organic growth and strategic acquisitions. Lane added: "This is an incredibly exciting time for the UK electric vehicle market. Record levels of BEV adoption, combined with significant advances in vehicle technology and charging infrastructure, provide enormous opportunities for growth."

The timing of the strategic refocus aligns with strengthening EV market conditions in the UK. Research from New AutoMotive shows that June was the third consecutive month in which battery electric vehicle sales outpaced petrol car sales. The UK government's Zero Emission Vehicle Mandate and a consumer EV grant scheme are cited as factors underpinning investor confidence in the market.

InstaVolt has stated its intention to continue expanding its network in the UK and Ireland, with a focus on further integration of solar PV and battery energy storage systems across its charging hubs.