Clayton Utz advises investment in EV charging network

Australian Motoring Services recently invested in an Australian startup to build Australia’s first open, ultra-rapid EV charging network

Clayton Utz advises investment in EV charging network

Good news for electric vehicle (EV) owners: more ultra-fast charging stations may be in the works. Australian Motoring Services Pty Ltd (AMS) recently invested in Australian startup Chargefox in its bid to build Australia’s first open, ultra-rapid EV charging network.

AMS, the commercial arm of the Australian Automobiles club, was advised by Clayton Utz on its investment. AMS is a major shareholder in Chargefox, which this week announced that it had successfully raised $15 million in investments.

Michael Reed, CEO at AMS, said that Australian Automobile Clubs wanted to encourage greater take-up of EVs by providing its members with access to the new charging technology and build on its current investment to improve infrastructure in Australia to help the transition from road transport to renewable energy.

Clayton Utz corporate partner Michael Linehan and special counsel Quentin Reidy led the transaction for AMS. "The firm has had a long history of advising AMS and various of the Automobile Clubs, so to be involved in this next major transaction is particularly pleasing," said Linehan.

Chargefox is planning to place 21 charging sites along inter-state highways across the eastern coast, connecting major capital cities including Adelaide, Melbourne, Sydney, Canberra, Brisbane and separately, the north and south of Perth.

The sites will be open-access for all EV models currently sold in Australia and be operated by using a mobile app.

In addition to AMS, Chargefox has received funding from Wilson Transformers, Carsales founder Greg Roebuck, and grants from Australian Renewable Energy Agency (ARENA) and the Victorian Government.

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Insolvency and restructuring expert joins Hall & Wilcox as specialist partner

Allens supports long-term client on $1.225bn debt refinancing

Paralegal files suit against US litigation firm and former partner for alleged sexual assault

NRF helps telco company achieve landmark ASX listing with $16.63bn IPO

G+T beefs up corporate advisory practice with lateral partner hires

Ince boosts APAC team with new HK partner

Most Read Articles

Cooper Grace Ward partner looks forward to more flexible work arrangements in the long term

KHQ Lawyers lures 4-man team from HWL Ebsworth

Logie-Smith Lanyon bolsters team with new senior appointments

Simmons & Simmons boosts Singapore investment funds group with new team