Balfour Beatty’s investment arm has been advised on its entry into the on-street electric vehicle charging market with the formation of Urban Fox, a partnership with British EV chargepoint operating company Urban Electric Networks.
Arrowpoint Advisory’s Energy Transition and Infrastructure team worked with Balfour Beatty Investments on the move, through which the firm expects to invest up to £60m of capital.
This will fund the rollout of up to 35,000 charge points across the UK over the next decade.
Urban Fox says it offers local authorities a whole-life solution to EV charge points, and that its 7kW on-street charge point is the first of its kind on the market.
Installed into the pavement, the unit is fully retractable underground leaving pavements clutter free and accessible when not in use.
Currently, 43% of British households lack access to off-street parking; however the growing demand and uptake of electric vehicles continues apace.
Ian Brown, managing director at Arrowpoint Advisory, said: “We are thrilled to have advised Balfour Beatty Investments on this new venture to support the build out of critical infrastructure required for the transition to electric vehicles.
“We are excited about the potential this partnership with Urban Electric Networks will bring to the UK.”
Arrowpoint Advisory is the dedicated mid-market team of Rothschild & Co in the UK; the firm provide advice on mergers and acquisitions, debt, and special situations.
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