Arrowpoint Advisory supports Balfour Beatty Investments on its entry into the on-street Electric Vehicle charging market
Arrowpoint Advisory’s Energy Transition and Infrastructure team has advised Balfour Beatty Investments (“BBI”) on its entry into the on-street Electric Vehicle charging market with the formation of Urban Fox – a partnership with Urban Electric Networks, a British EV chargepoint operating company.
Balfour Beatty Investments expects to invest up to £60 million of capital in the partnership to fund the roll out of up to 35,000 charge points across the UK over the next decade.
Urban Fox offers local authorities a whole life solution to EV chargepoints: funding, building, operating and maintaining a range of fast, rapid and slow chargepoints across the counties in which they will be deployed.
Its innovative 7kW on-street chargepoint is the first of its kind to the market. Installed into the pavement, the unit is fully retractable underground leaving pavements clutter free and accessible when not in use. With 43% of British households without access to off-street parking, and the growing demand and uptake of electric vehicles, Urban Fox’s quick installation and replacement process allows additional chargepoints to be easily installed as demand dictates.
Ian Brown, Managing Director at Arrowpoint Advisory, concluded: “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.”