The Times: RAW Power: Chief Bruce Galliford Plans To Make Recharging Points A Go-To Destination
Bruce Galliford is slightly abashed to admit he drives a brand new Mercedes EQS, at £110,000 one of the big beasts of electric motoring. His second car is a £50,000 Polestar. He is in the electric car game but as he admits: “It’s a bit flash.”
Then Covid struck. The lockdowns were a commercial disaster for many, but they gave RAW a headstart.
The energy majors wanting to stitch up the sector were used to big boardroom schmoozing and were stumped. “They weren’t used to doing business from their bedrooms,” says Galliford, whose small team around the country had been communicating among themselves and with clients by Zoom for 18 months prior.
The real estate investment funds of Aviva with their shopping centres and commercial properties approached RAW wanting a view on what they should do about EV charging at 550 of their locations. By the end of the first lockdowns, RAW had built them a plan of action.
Other big estate owners followed such as Segro, Greene King the pubco, Bespoke Hotels, and McArthurGlen’s shopping outlets.
The electricity providers get their money and RAW and the landlords share the margin made on what the motorist pays. “The model is to make a small amount on every kilowatt we sell because we want to start competitive and stay competitive,” he says. “We are not making money at the moment because there is not enough [EV] penetration or utilisation yet. In two or three years time it will be completely different. By 2030 it will be a really strong business.”
One unexpected twist has been working with Abrdn and its portfolio of properties. It found scraps of land that could not be redeveloped. One, on a street corner in Slough, has been turned into the first RAW Charge Yard with eight rapid chargers. A dozen more pieces of dead acreage in urban centres around the country will go through the same process.
As a young fellow Galliford says he and his two older brothers could not help but be immersed in the building game, spending school holidays working on construction sites and most weekends being hauled around by their father to see how sites were progressing. “Like my father, I think our people need to know what we are doing and that we are doing it right.”
“He pushed us away [from joining the family company] for all the best reasons, a case of making our own way.
“My father built something big but he was an ethical and selfless person. He’d be horrified to hear me say it but that sits over you and there is a need [for me] to stand up and show that [I] can do the same sort of thing.”
He adds: “His best advice was only do things that in ten, twenty or thirty years you won’t regret. That changes the way you act. If you can sleep at night you are lucky.”
Q&A:
Who is your mentor? My father
Who do you most admire? Sebastian Vettel, his work ethic, engineering obsession and using his influence for good on climate change
What was the most important event in your working life? Investment by Bayford Group, it facilitated the big step to where we are now
What does leadership mean to you? Leading by example and nurturing young talent
Does money motivate you? Money facilitates positive change but it is not a daily motivation
What is your favourite television programme? Top Gear, The Grand Tour
How do you relax? Walking the dog with my wife, and I have just rediscovered sailing with the family
CV:
Age 53
Education Oundle School; University of Buckingham, BSc Hons business administration
Career 1991-93 dealer Rothschild Asset Management; 1993-94 principal dealer Guernsey Capital Management (Apax Bank & Trust); 1995-99 corporate development for iCollector (was Corsellis-Montford); 1999–2011 various roles in start-ups and consultancies; 2011–14 founder EWF Energy; 2014–20 co-founder RAW Energy; 2018– RAW Charging
Family Married with three children