Season 3, Post 21: TOWIE (or, The Only Way Is Electric)

Drive just over 50 miles north east of London and you reach Braintree in Essex. This county of England is home not just to the long-running reality TV show…

Season 3, Post 21: TOWIE (or, The Only Way Is Electric)

Drive just over 50 miles north east of London and you reach Braintree in Essex. This county of England is home not just to the long-running reality TV show, “The Only Way Is Essex” (known familiarly to its fans as TOWIE), but it is also where Britain’s drivers can find the country’s first all-electric charging station. Although the electric forecourt – as its owners prefer to describe it – first opened in December last year, with most lockdown restrictions having just ended, business is only now beginning to build. Your author visited recently and was impressed.

The secular case for electric vehicles is well understood. Today, transport accounts for around 25% of global CO2 emissions (per the IEA). Against this background, many countries across the world have committed to phasing out fossil fuel vehicles by the middle of this decade at the latest, or 2030 in the case of the UK. Although there were just 7m electric cars on the road globally in 2020, by 2030 this figure could reach 240m (per estimates from Barclays). Gridserve – the private owners behind Braintree’s electric forecourt – are therefore perhaps on to something. The UK currently has over 8,300 petrol stations (per Fuels Europe). Even with the electric charging model being effectively multi-modal (users can charge from home, on-street and in electric forecourts), conventional stations will clearly need to adapt. An enthusiastic employee told your author that Gridserve currently has plans to open another 20 UK outlets this year – the next likely to be in Norwich – and more than 100 by 2026.

As the photographs attest, the Gridserve proposition in Braintree is a compelling one. The design of the venue is undoubtedly futuristic. The 36 principal charging stations are housed under a roof comprising solar panels, while the main building has been designed apparently to resemble an airport. The thinking behind this approach is to make a visit to Braintree an experience. Since it currently takes around 20 minutes of charge time to add 200 miles of range to your vehicle, the forecourt has been deliberately adapted to offer a wider range of services than a traditional station. Drivers can wait in a lounge that is not totally different to an airport equivalent, equipped with super-fast WiFi and exercise bikes for hire (social distancing restrictions permitting). The retail offering is also markedly superior to that of a more conventional petrol station. 

Ultimately though, it comes down to cost. The Gridserve employee with whom your author spoke said it was possible to charge an average-sized electric vehicle from 20% to 80% for no more than £10 ($14). When the question was put to the employee whether there had been any negative customer feedback at Braintree, his response was that “people bring their normal cars here and are disappointed when they can’t charge them.” As we noted earlier, the only way is electric. 

25 May 2021

​​​​​​​The above does not constitute investment advice and is the sole opinion of the author at the time of publication. The author of this piece has no personal direct investment in the business. Past performance is no guide to future performance and the value of investments and income from them can fall as well as rise.

Alex Gunz, Fund Manager


The document is provided for information purposes only and does not constitute investment advice or any recommendation to buy, or sell or otherwise transact in any investments. The document is not intended to be construed as investment research. The contents of this document are based upon sources of information which Heptagon Capital LLP believes to be reliable. However, except to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to the accuracy or completeness of this document or its contents and, Heptagon Capital LLP, its affiliate companies and its members, officers, employees, agents and advisors do not accept any liability or responsibility in respect of the information or any views expressed herein. Opinions expressed whether in general or in both on the performance of individual investments and in a wider economic context represent the views of the contributor at the time of preparation. Where this document provides forward-looking statements which are based on relevant reports, current opinions, expectations and projections, actual results could differ materially from those anticipated in such statements. All opinions and estimates included in the document are subject to change without notice and Heptagon Capital LLP is under no obligation to update or revise information contained in the document. Furthermore, Heptagon Capital LLP disclaims any liability for any loss, damage, costs or expenses (including direct, indirect, special and consequential) howsoever arising which any person may suffer or incur as a result of viewing or utilising any information included in this document. 

The document is protected by copyright. The use of any trademarks and logos displayed in the document without Heptagon Capital LLP's prior written consent is strictly prohibited. Information in the document must not be published or redistributed without Heptagon Capital LLP's prior written consent. 

Heptagon Capital LLP, 63 Brook Street, Mayfair, London W1K 4HS
tel +44 20 7070 1800
fax +44 20 7070 1881
email [email protected] 

Partnership No: OC307355 Registered in England and Wales Authorised & Regulated by the Financial Conduct Authority 

Related Insights

Featured Insights
Featured Insights26 January 2022

Season 4, Post 4: Where did those five hours go?

It is generally recommended that adults get at least 7 hours sleep a night. That leaves 17 hours in each day to do everything else. Consider then that we spend almost a third of this time – or a remarkable 4.8 hours daily – on our mobile phones. For context, this figure represents a 30% […]

Learn more
Featured Insights
Featured Insights19 January 2022

Season 4, Post 3: Virtual coffee with the Head of IT

One of the joys of being an investor in future trends is that you get to talk to interesting people. What better way to learn about the future then, than to have a conversation with Heptagon Capital’s very own Head of IT. We had intended to do this event over a civilised cup of coffee […]

Learn more
Featured Insights
Featured Insights13 January 2022

Season 4, Post 2: Food’s fascinating future

Food is a passion of your author, so much so that beyond the Future Trends Blog, he has been penning a restaurant review Blog for close on a decade. When food and future trends coincide, there is particular reason then for excitement. Feeding the planet sustainably is arguably the key priority for the world as […]

Learn more

Get The Updates

Separated they live in Bookmarks right at the coast of the famous Semantics, large language ocean Separated they live in Bookmarks right


Sign up to our monthly email newsletter for the latest fund updates, webcasts and insights.