Blink Charging partners with Axxeltrova Capital to create a £100 million Special Purpose Vehicle, leveraging government LEVI funding to accelerate public electric vehicle charging infrastructure across the UK, supporting the national net-zero transition.
Blink Charging Co., a global leader in electric vehicle (EV) charging equipment and services, has announced a significant step in expanding EV infrastructure across the UK through the establishment of a £100 million Special Purpose Vehicle (SPV). This initiative, formed in partnership with private equity firm Axxeltrova Capital, is designed to accelerate public EV charging infrastructure development by leveraging the UK government’s Local Electric Vehicle Infrastructure (LEVI) program.
The newly formed SPV will act as a financial and operational vehicle to own and support Blink’s EV charging stations, which the company will install, operate, manage, and maintain within its comprehensive Blink Network. Axxeltrova Capital brings to the table specialized expertise in sustainable infrastructure financing, particularly in energy transition assets, positioning the SPV as a robust platform to scale up EV charging deployments effectively across the UK.
Alex Calnan, Blink’s Managing Director of Europe, highlighted that the collaboration aims to “enable the acceleration of EV charging infrastructure deployment and development across the UK,” reaffirming the company’s commitment to facilitating the transition to electric mobility. Calnan emphasised that the SPV not only supports infrastructure growth but also aligns with Blink’s capital efficiency goals under its BlinkFORWARD programme, which prioritises non-dilutive financing to drive profitable growth.
Rick Phillips, Managing Partner at Axxeltrova Capital, expressed pride in the partnership, stating that the SPV would “support the expansion of accessible EV charging options for drivers throughout the UK,” while ensuring reliability, high performance, and long-term sustainability. The SPV structure will allow these crucial projects to scale at pace, backed by strategic funding and operational expertise.
The LEVI program, which catalyses local authorities to install public charging infrastructure, directly supports this initiative by providing financial incentives aimed at bridging the gap between national net-zero targets and practical EV adoption on the ground. Through this funding mechanism, the SPV is well positioned to benefit from substantial government subsidies designed to make sustainable transport more accessible and convenient across British communities.
Blink Charging’s approach involves strategic collaborations with local authorities, businesses, and property developers to embed EV charging solutions in diverse locations including parking facilities, multifamily residences, workplaces, healthcare centres, educational institutions, airports, and more. This ensures a broad footprint and customer-focused solutions are at the heart of their sustainable energy management strategy.
Additionally, the company’s financial strategy highlighted during a recent earnings call makes clear that the SPV functions as an off-balance sheet entity funded not only through LEVI but also via investments from Axxeltrova and other investors. This arrangement allows Blink to monetise its charging stations through the SPV while generating ongoing revenue from network services, reflecting an innovative finance model supporting expansion across the UK market.
Blink Charging, through this £100 million SPV, along with Axxeltrova’s EV Infrastructure Fund—which invests in sustainable energy transition and EV infrastructure across the UK and Europe—is positioning itself as a formidable force in supporting national net-zero ambitions by making electric vehicle charging more accessible and reliable.
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Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
3
Notes:
🕰️ The narrative was first published on November 5, 2024, and republished on July 10, 2025. The July 10, 2025, version includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. ⚠️
Quotes check
Score:
2
Notes:
🕰️ The quotes from Alex Calnan and Rick Phillips are identical to those in the November 5, 2024, press release. This suggests potential reuse of content. ⚠️
Source reliability
Score:
5
Notes:
⚠️ The narrative originates from The Manila Times, a reputable organisation. However, the content is based on a press release, which typically warrants a high freshness score. ⚠️
Plausability check
Score:
7
Notes:
✅ The claims about the £100 million Special Purpose Vehicle and the partnership with Axxeltrova Capital align with previous reports from November 2024. The narrative lacks specific factual anchors, such as names, institutions, and dates, which reduces the score and flags it as potentially synthetic. ⚠️
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
⚠️ The narrative is a recycled press release from November 2024, republished with minimal updates. The identical quotes and lack of new information suggest potential disinformation. ⚠️
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