Blink Charging Co. Partners with Axxeltrova to Establish £100 Million Special Purpose Vehicle for EV Charging Infrastructure Expansion in the UK

Blink Charging announces a £100 million collaboration with Axxeltrova to expand EV charging infrastructure in the UK.

Quiver AI Summary

Blink Charging Co. has announced its partnership with private equity firm Axxeltrova to establish a £100 million Special Purpose Vehicle (SPV) aimed at enhancing electric vehicle (EV) charging infrastructure in the UK, supported by the Local Electric Vehicle Infrastructure (LEVI) initiative. The SPV will finance and own Blink's charging stations, which will be installed and managed by Blink on its network. This collaboration is designed to accelerate the deployment of EV chargers while ensuring sustainability and reliability. It aligns with Blink's BlinkFORWARD program, focusing on capital efficiency and profitability. The LEVI program aims to expand public charging networks, supporting local authorities in making sustainable transportation more accessible.

Potential Positives

The establishment of a £100 million Special Purpose Vehicle (SPV) with Axxeltrova is expected to significantly enhance Blink Charging's ability to accelerate the deployment of EV charging infrastructure across the UK.
The collaboration with Axxeltrova brings expertise in sustainable infrastructure financing, which could lead to improved operational efficiency and capital management for Blink.
This initiative positions Blink Charging to make a meaningful contribution towards meeting national net-zero goals and promoting the adoption of electric mobility in the UK.
The SPV aligns with Blink's BlinkFORWARD program, demonstrating a commitment to capital efficiency and non-dilutive financing, which may drive the company closer to profitability.

Potential Negatives

The announcement of a non-binding term sheet may signal uncertainties regarding the actual execution and funding of the proposed £100 million Special Purpose Vehicle, potentially impacting investor confidence.
The reliance on a private equity firm, Axxeltrova, for financing raises questions about Blink's ability to independently fund its EV infrastructure initiatives.

FAQ

What is the purpose of the Special Purpose Vehicle (SPV)?

The SPV aims to accelerate public EV charging infrastructure development in the UK through the LEVI initiative.

Who is partnering with Blink Charging on the SPV?

Blink Charging is collaborating with private equity firm Axxeltrova to establish the SPV for EV charging growth.

How much funding is the SPV expected to facilitate?

The SPV is proposed to support up to £100 million for expanding EV charging infrastructure in the UK.

What benefits does the Axxeltrova collaboration bring?

Axxeltrova's expertise will enable rapid scaling of reliable and sustainable EV charging solutions across the UK.

What is the LEVI program?

The LEVI program supports local authorities in expanding EV charging networks to meet national net-zero goals in the UK.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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Full Release

The Special Purpose Vehicle will enable acceleration of public EV charging infrastructure, leveraging support from the LEVI initiative.

London, UK, July 10, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that on June 20, 2025 it has entered into a non-binding term sheet with respect to the Company’s previously proposed £ 100 million Special Purpose Vehicle (SPV) with private equity firm Axxeltrova to support growth in EV charging development across the UK through the Local Electric Vehicle Infrastructure (LEVI) program.

The innovative Special Purpose Vehicle (SPV) will facilitate funding to support the growth of the EV sector’s owner-operator model. The SPV will be established to finance and own the Blink chargers, which Blink will install, operate, manage, and maintain on the Blink Network. Axxeltrova brings deep experience in sustainable infrastructure financing, focusing on energy transition assets.

“The collaboration between Blink and Axxeltrova will enable the acceleration of EV charging infrastructure deployment and development across the UK,” said Alex Calnan, Blink’s newly appointed Managing Director of Europe. “This SPV is projected to position us to provide a unique and impactful contribution to meeting the needs of EV infrastructure across the UK and beyond and further to demonstrate our commitment to supporting the transition to electric mobility.”

The collaboration with Axxeltrova aligns with the Company’s BlinkFORWARD program, a pillar of which is a focus on capital efficiency and non-dilutive financing driving success towards profitability.

“Axxeltrova is proud to establish this structure with Blink to support the expansion of accessible EV charging options for drivers throughout the UK. The SPV will allow these important projects to scale quickly while maintaining reliability, top-quality performance, and long-term sustainability,” shared Rick Phillips, Managing Partner at Axxeltrova Capital.

The LEVI program was introduced to drive the expansion of EV charging networks throughout the UK by supporting local authorities in installing public charging station infrastructure. By bridging the gap between national net-zero goals and practical EV adoption, LEVI is designed to make sustainable transport more accessible and convenient for communities across the country.

Blink Charging continues to secure collaborations throughout the UK, working with local authorities, businesses, and property developers to provide customer-focused solutions and sustainable energy management for a cleaner transport future.

About Blink Charging
Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.

For more information, please visit https://blinkcharging.com/

About Axxeltrova EV Infrastructure Fund
Axxeltrova’s EV Infrastructure Fund is a dedicated private equity vehicle investing in sustainable energy transition and electric vehicle charging infrastructure across the UK and Europe. Backed by Axxeltrova’s deep expertise in digital infrastructure and technology financing, the Fund partners with leading developers and technology providers to accelerate the rollout of reliable, accessible public charging networks that support national net zero ambitions. For more information, please visit www.axxeltrova.com .

Blink Media Contact
Felicitas Massa
[email protected]

Blink Investor Relations Contact
Vitalie Stelea
[email protected]