Macquarie Asset Management is eyeing investments in the “next phase of the energy transition” after making a $215 million investment alongside Spanish infrastructure group Ferrovial in DC-based electric vehicle company Inspiration Mobility.
Inspiration Mobility was created just six months ago following a $200 million investment from Arclight Capital Partners, investing via its $3.4 billion ArcLight Energy Partners Fund VII. The funding from Macquarie comes via its balance sheet through the Green Investment Group, which became integrated with the asset management arm last month, having previously been a part of Macquarie Capital.
Chris Leslie, global head of sustainability at MAM, said in a statement that the deal “underscores our commitment to seeking investment opportunities in the next phase of energy transition – beyond core renewables like wind and solar”. In addition to investments in EVs and associated infrastructure, this is thought to include batteries, green hydrogen and carbon capture, utilisation and storage. In December, the GIG invested in HyCC, a green hydrogen development company.
Inspiration partners with businesses to finance, own, and operate “the real assets that enable the electric vehicle transition”, Macquarie said in a statement. Inspiration’s first two operating businesses since its launch, Inspiration Fleet and Inspiration Energy, are designed to reduce the cost and complexity of electrification for EV fleets by providing solutions on the energy, project development and finance sides.
“As an EV native fleet management company, Inspiration knows how to help customers be successful decarbonising their vehicle fleets,” Leslie told Infrastructure Investor. “Moreover, many companies have decided to make the change to EVs, but don’t know how to do it. Inspiration has assembled a strong team of fleet management experts, charging managers, and EV specialists.”
The GIG made an investment in the EV space in June last year, partnering with Netherlands-based Heliox. However, while the investment in Inspiration is more focused on vehicle fleets, this was designed to fund the charging infrastructure for electric buses and trucks.