Shell Announces the Purchase of Greenlots, One of the Largest EV Charging Providers in the U.S.
In the future, if everyone drove an electric car, what will happen to all of the existing gas stations? Perhaps they might be converted to EV charging stations by some of the same oil companies that currently operate them, which might be the case with oil and gas company Shell.
Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc. announced the purchase of electric vehicle charging company Greenlots, one of the largest EV charging providers in the U.S. Greenlots will become a subsidiary of Shell New Energies.
Royal Dutch Shell is one the largest oil and natural gas producers and operations around 25,000 gas stations in the U.S.
Greenlots was founded in 2008 and is based in Los Angeles. The company sells EV charging stations to cities, automakers, businesses and other commercial property owners. In addition to providing EV charging infrastructure, Greenlots offers software and support to manage it. The company has a mobile app for driver of electric vehicles, which allows them to locate and pay for charging sessions.
Under Shell's stewardship, Greenlots will now be able to accelerate its "electric vehicle infrastructure deployment and management across North America," Greenlots wrote in a statement.
"As power and mobility converge, there will be a seismic shift in how people and goods are transported," said Brett Hauser, Chief Executive Officer of Greenlots. "Electrification will enable a more connected, autonomous and personalized experience. Our technology, backed by the resources, scale and reach of Shell, will accelerate this transition to a future mobility ecosystem that is safer, cleaner and more accessible."
Shell established its New Energies division in 2016. The division focuses on two main areas new fuels for transportation, such as hydrogen, and power, including generating electricity, supplying it directly to customers, as well as buying and selling it. Shell aims to make electricity a significant part of its business.
"This latest investment in meeting the low-carbon energy needs of U.S. drivers today is part of our wider efforts to make a better tomorrow. It is a step toward making EV charging more accessible and more attractive to utilities, businesses, and communities." said Mark Gainsborough, executive VP of Shell New Energies.
Shell's New Energies business is seeking to leverage the company's strengths in fast-growing and commercial parts of the energy industry, including EV charging, and could spend on average between $1 to 2 billion a year until 2020 on commercial opportunities, such as public EV charging infrastructure.
In December, Greenlots and one of its chief rivals Chargepoint, announced a "roaming partnership" that will enable charging between each respective network. The deal is set to begin in mid-2019 and opens up access to thousands of additional EV charging locations throughout North America at no additional cost to drivers.
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