Melbourne, 24 October 2018: Clayton Utz has advised Australian Motoring Services Pty Ltd (AMS) on its investment in Australia's first ultra-fast charging network powered by renewable energy.
AMS has invested, and is the major shareholder in, Australian start-up Chargefox, which this week announced it had successfully raised $15 million to build Australia's largest open, ultra-rapid network of charging stations for modern electric vehicles (EV).
AMS is the commercial vehicle for Australian Automobile Clubs (NRMA, RACV, RACQ, RAC, RAA and RACT). AMS CEO Michael Reed said 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. Michael commented that it was very exciting to be able to advise on this ground-breaking transaction. "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."
Chargefox will roll out 21 charging sites that are expected to be no more than 200 km apart on inter-state highways across the east coast, connecting major capital cities including Adelaide, Melbourne, Sydney, Canberra, Brisbane and separately, the north and south of Perth. The public sites will be open-access for all EV models currently sold in Australia. Motorists will be able to use the stations via an 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.