Accounting for $16.6 billion dollars, the electric car charging industry is of growing importance to both the environmental and economic sectors. With sustainable energy now much cheaper than gas, fossil fuel leaders have much more incentive to invest in sustainable energy than ever before.
And that's exactly what Shell appears to be doing. Investing around $3 billion dollars a year in sustainable energy, Shell at least looks like its taking steps to cut down its fossil fuel reliance, despite still profiting heavily off the mining of fossil fuels. Ubitricity, a global software and hardware provider for electric car charging stations, is one of these investments.
Having gained partnerships with the likes of Siemens, who have a minority stake in the company, Ubitricity transforms streetlamps into charging stations for cars and is making headway most notably in the UK. Its acquisition by Shell indicates a strategy by large fossil fuel companies to have more influence in the sustainability sector. The results of this remain to be seen, but Ubitricity has proved itself to be an important part of global transitions away from fossil fuels.
Kirsty
Company Specialist at Welcome to the Jungle
