Alliance Resource Partners L.P. (ARLP) has made an equity investment in Francis Energy LLC, an owner and operator of a comprehensive statewide network of electric vehicle (EV) fast-charging infrastructure.
“The growth of the electric vehicle market in the United States is undeniable and the need to buildout EV charging infrastructure to support this growth is critical,” says Joseph W. Craft III, ARLP’s chairman, president and CEO. “We view our investment with Francis Energy as an important step in ARLP’s participation in this next generation energy platform.”
Under the agreement, the Francis Energy executive team will continue its day-to-day management of the company and, as a significant minority shareholder, ARLP will hold a seat on the Francis Energy board of directors.
“The Francis Energy team has demonstrated their ability to successfully develop a business model deploying EV charging sites that can be scaled across the nation,” adds Craft. “We believe ARLP’s relationships with utilities, industrial customers and federal and state governments, along with our technology and manufacturing capabilities will accelerate Francis Energy’s deployment of this critical infrastructure. We are excited to be a part of this historic endeavor.”
“Having a strategic partner like Alliance Resource Partners will help Francis Energy expand our buildout of a public EV fast-charging network that reaches beyond the Midwest and into the eastern United States,” notes David Jankowsky, Francis Energy’s founder and CEO. “Alliance Resource Partners is one of the preeminent diversified public energy companies in the U.S. and its support of Francis Energy reinforces our position as a leader in transforming transportation.”
Francis Energy has a statewide network of fast chargers across the state of Oklahoma with stations every 50 miles. The Oklahoma network ensures rural areas, tribal lands and underserved communities have reliable access to EV charging stations. Francis Energy recently announced partnerships to expand its national charging network with two fuel and convenience store operators – Fuel Maxx, in the Houston metro area, and Wally’s, at a new charging center located outside St. Louis. Francis is currently expanding its fast-charging network into 35 states.