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Blink Charging partners with Axxeltrova Capital to create a \u00a3100 million Special Purpose Vehicle, leveraging government LEVI funding to accelerate public electric vehicle charging infrastructure across the UK, supporting the national net-zero transition.<\/p>\n
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 \u00a3100 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.<\/p>\n
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.<\/p>\n
Alex Calnan, Blink\u2019s 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\u2019s commitment to facilitating the transition to electric mobility. Calnan emphasised that the SPV not only supports infrastructure growth but also aligns with Blink\u2019s capital efficiency goals under its BlinkFORWARD programme, which prioritises non-dilutive financing to drive profitable growth.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Blink Charging\u2019s 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.<\/p>\n
Additionally, the company\u2019s 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.<\/p>\n
Blink Charging, through this \u00a3100 million SPV, along with Axxeltrova\u2019s EV Infrastructure Fund\u2014which invests in sustainable energy transition and EV infrastructure across the UK and Europe\u2014is positioning itself as a formidable force in supporting national net-zero ambitions by making electric vehicle charging more accessible and reliable.<\/p>\n