11:19 AM EST, 11/05/2024 (MT Newswires) -- Blink Charging ( BLNK ) said Tuesday it is launching a 100 million British pound ($130.1 million) special purpose vehicle that aims to finance electric vehicle charging projects across the UK and elsewhere.

The EV charging equipment and services provider said it has partnered with private equity firm Axxeltrova to establish the SPV, which is designed to attract additional investments from those looking to participate in the booming EV infrastructure market.

Blink said the SPV is targeting projects eligible for subsidies through the UK's Local Electric Vehicle Infrastructure funding.

Shares of Blink were up 2.2% in recent trading.

Price: 2.06, Change: +0.05, Percent Change: +2.24