| 1:27 PM EST

Shell Buys U.S. EV Charging Firm

Petroleum giant Royal Dutch Shell plc has acquired Greenlots, a Los Angeles-based company that specializes in electric vehicle charging systems, from Energy Impact Partners (EIP). 
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Petroleum giant Royal Dutch Shell plc has acquired Greenlots, a Los Angeles-based company that specializes in electric vehicle charging systems, from Energy Impact Partners (EIP).

Terms of the deal, which were made through Shell’s New Energies subsidiary, weren’t disclosed. EIP, a “clean technology” private equity fund formed in 2015, began investing in Greenlots in 2016.

Launched in 2008, Greenlots operates 350 DC fast-charging stations in the U.S., mainly along highways. The company also provides EV charging-related smartphone apps, network management software and grid-balancing services.

Over the last two years, Greenlots has announced partnerships with BMW, General Motors, Hyundai/Kia, Volvo and Volkswagen’s Electrify America initiative. The GM program, which also involves ChargePoint and EVgo, integrates information about more than 31,000 charging stations into the carmaker’s myChevrolet app to provide motorists with updated information about the location and status of nearby chargers.

Shell’s acquisition of Greenlots follows rival BP’s purchase of Chargemaster last year. Chargemaster is the largest operator of charging stations in the U.K.

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