- Public EV charging network, Blink, has announced plans to launch a £100 million Special Purpose Vehicle (SPV) in partnership with private equity firm Axxeltrova Capital, to boost the deployment of UK public charging infrastructure.
- The new public chargers will be deployed through the Local EV Infrastructure (LEVI) fund, which allows local authorities to apply for funding to deliver charging infrastructure, particularly to help residents without off-street parking.
- This significant investment is set to play a pivotal role in the UK’s wider transition to electric vehicles.
Blink Charging set to expand its UK charging network
The SPV structure, which was signed in a non-binding term sheet last month, is designed to fund the ownership and installation of Blink chargers across the UK, which will be owned, managed, and maintained directly by Blink. The EV chargers will be accessible to drivers through the existing Blink EV charging network.
Whilst the exact number of public chargers set to be gained from this SPV is yet to be confirmed, the firm says that this structure, that brings on board Axxeltrova’s own expertise in sustainable infrastructure financing, will help infrastructure to be rolled out at rapid pace.
The move comes at a crucial time for the UK, as we saw over 8,600 public charge points installed in the first six months of 2025, according to Zapmap data. With the ban on new petrol and diesel cars less than five years away, installing public charging infrastructure than can specifically help those without off-street parking transition to EVs is crucial.
Alex Calnan, Europe Managing Director for Blink, commented:
“The collaboration between Blink and Axxeltrova will enable the acceleration of EV charging infrastructure deployment and development across the UK. 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.”
Rick Phillips, Managing Partner at Axxeltrova Capital, added:
“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.”
