M7 Real Estate plugs into electric vehicle partnership with Engenie

– 15-year partnership estimated to remove over 2.5 tonnes of harmful NOx from UK roads

– Important step towards realising Engenie’s ambition to install 1,500 UK chargers by 2021

– Announcement marks major milestone in M7’s long term environmental strategy to future proof its portfolio

 

Engenie today announced it has partnered with M7 Real Estate Ltd to install rapid EV chargers across all of M7’s out of town retail warehouses, which is estimated to remove over 2.5 tonnes of harmful NOx from UK roads[i].

The partnership – which is based on a profit share model on gross profit – will see EV charging points powered exclusively by 100% renewable energy installed at 8 locations across the UK.

Patrick Sherriff, Business Development Director at Engenie said: Installing convenient, accessible and easy-to-use EV charging points across M7’s UK portfolio will put the customer at the heart of the EV transition. At the same time, the 100% renewable energy powering the chargers and the positive impact on local air quality fits with both M7 and Engenie’s long-term commitments to improving our environmental impact.”

The news marks a major milestone in M7’s long term environmental strategy to future proof its portfolio and optimise performance across all of its locations.

John Murnaghan, Head of UK Real Estate at M7 said: “As the number of retail warehouse assets under our management continues to grow, so too has the demand from our customers for this technology. This partnership presents a compelling opportunity to help future proof our retail park portfolio as well as enhancing the performance of these assets and consumer choice on site.”

The announcement comes hot on the heels of Engenie’s successful bid to secure investment from Investec which will see its UK-wide network grow to 1,500 rapid chargers by 2021[ii]. Engenie’s charging points are accessible, easy-to-use, require no membership or connection fee and operate a simple contactless payment method. The majority of the 16 rapid chargers are expected to be installed at M7’s locations in time for Christmas this year.

Patrick Sherriff added: “Partnering with M7 to offer their customers rapid EV charging is a significant step towards our aim to build a public charging network spanning the whole of the UK. M7’s retail parks are a perfect fit for our rapid chargers, giving EV drivers the convenience of re-fuelling whilst they shop and eat.”

 

 

For more information about Engenie, images and to arrange interviews, please contact:

Will Spragg                   will.spragg@greenhousepr.co.uk
+44 (0) 7528 307499

Rosie Williams              rosie.williams@greenhousepr.co.uk
+44 (0) 7990 788411

 

For more information about M7 and to arrange interviews, please contact: 

Richard Sunderland / Claire Turvey / Eve Kirmatzis, FTI Consulting

M7@FTIConsulting.com

+44 (0)20 3727 1000

 

Note to Editors:

 

M7 Real Estate Ltd

M7 Real Estate Ltd is a pan-European investor and asset manager specialised in multi-let real estate. M7’s team consists of over 225 staff operating across a platform spanning 13 countries comprising the UK, Croatia, Czech Republic, Denmark, Finland, France, Germany, Hungary, Luxembourg, the Netherlands, Poland, Portugal and Slovakia.

Established in 2009 and wholly owned by its senior managers, M7 manages a portfolio of c.1,300 assets comprising 106 million sq ft of GLA with a capital value of c. €7.2 billion.

M7 acts as an investment and asset manager to a series of funds that it has established and in which it co-invests alongside a large number of family office, high net worth and institutional investors. In addition, M7 has a number of joint ventures with private equity partners including Blackstone, H.I.G. Capital and Starwood Capital. M7 also has separate account mandates where it acts as a third party asset manager for the portfolios of institutional, family office and high net worth investors including M&G Investments and MIRA.

Additional information about M7 can be found at www.m7re.eu

 

Engenie Ltd:

Engenie Ltd is an electric vehicle charging network operator specialised in rapid chargers. With a customer-first approach, Engenie provides charging points that are are accessible, easy-to-use, require no membership or connection fee and operate a simple contactless payment method. Every charging point is also powered using 100% renewable electricity, forming a major part of Engenie’s commitment to enable a low-carbon transport system and pollutant-free air.

 

Engenie offer fully funded and fully managed charging solutions for commercial landlords, local authorities, fleets and property developers. Following an initial pilot, Engenie secured significant investment from Investec to expand its operations into a UK-wide network of EV charging points. Its fast-growing team is based in London Victoria.

 

NOx calculation and sources:

  • An average Engenie charger (conservative 15yr model taking into account market growth) delivers 60kWh per day, so a standard double-charger Engenie site delivers 120kWh per day.
  • A standard 2012 Nissan Leaf (most common pure electric vehicle in the UK) drives 100 miles on 34kWh (Source: Green Car Reports), so would drive 352.94 miles or 568km on the 120Wh delivered per day by an Engenie site.
  • Which? tested the NOx emissions of Euro 6 compliant diesel cars across all major manufacturers and the average was 0.25g/km (Euro 6 limit is 0.08g/km). Four out of five diesel cars produce more NOx than the Euro 6 limit.
  • Which? also tested petrol cars and found an average NOx emission of 0.027g/km
  • At the end of 2017 the split of petrol/diesel licensed cars was 60-40. So, an EV that drives 100km it is avoiding/saving the 0.027g/km of NOx produced by petrol for 60km and the 0.25g/km produced by diesel cars for 40km. (We don’t have any data on whether a diesel driver is more likely to switch to EV than a petrol driver).
  • Based on this, the 568km of zero-emission driving delivered by an Engenie charging station site each day is saving 568 x 0.6 = 341km of petrol driving and 568 x 0.4 = 227km of diesel driving.
  • At 0.027g/km and 0.25g/km petrol and diesel respectively, then, 341km x 0.027g/km = 9.2g and 227km x 0.25km = 56.8g, in total 66g of NOx avoided per day by the driving delivered by one Engenie site.
  • So, on one Engenie site, 66g x 365 days x 15yrs = 361.35kg per site.
  • The M7 partnership represents 8 locations, so in total for the partnership that’s 2,890.8kg or 2.9 tonnes.

 

More information on Engenie can be found at https://engenie.co.uk

 

[i] Based on the average energy consumption at an Engenie double-charger site (conservative model) and the average g/km of NOx emitted by Euro 6 compliant vehicles (Which?). Note NOx emissions vary widely across different manufacturers and models, which is why an average and not a direct equivalent car to a common EV was used.

[ii] Engenie leads the charge with Investec deal: https://engenie.co.uk/2018/04/19/engenie-leads-the-charge-with-investec-deal/