Alliance Resource Partners, L.P. Invests in Francis Energy, LLC to Expand EV Charging Network Across Middle America
TULSA, Okla.–(BUSINESS WIRE)–Francis Energy, LLC (Francis Energy), the owner and operator of the nation’s first comprehensive statewide network of electric vehicle (EV) fast charging infrastructure, announced today an equity investment in the company by Alliance Resource Partners, L.P. (NASDAQ: ARLP). The investment brings together two Tulsa-based American success stories to help change the way Americans drive for generations to come.
ARLP Chairman, President and Chief Executive Officer Joseph W. Craft III said of today’s announcement, “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. We view our investment with Francis Energy as an important step in ARLP’s participation in this next generation energy platform.”
Mr. Craft added, “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. 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.”
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.
Francis Energy Founder and Chief Executive Officer David Jankowsky noted, “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.”
Mr. Jankowsky added, “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 built the first in the nation comprehensive statewide network of fast chargers across the state of Oklahoma with stations virtually every 50 miles. The Oklahoma network ensures rural areas, tribal lands, and underserved communities have reliable access to EV charging stations and serves as a successful model in building a public charging network across middle America. The company won competitive state grants earlier this year in Missouri and Kansas to build new charging stations along heavily traveled interstate highways.
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.
Francis Energy was advised by Perella Weinberg Partners and Skadden, Arps, Slate, Meagher & Flom.
ARLP was advised by Rose, Grasch, Camenisch & Mains.
About Francis Energy, LLC
Francis Energy’s mission is to create regional networks of public access electric vehicle charging equipment in order to encourage and support the widespread adoption of electric vehicles. Its business strategy is to develop, construct, and operate electric vehicle (“EV”) charging infrastructure projects in under-served rural and urban markets throughout the Midwest. Francis has a track record of success in developing and constructing EV charging infrastructure, including building and operating one of the largest EV charging networks in the USA. For more information, visit https://francisenergy.com
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States. ARLP also generates royalty income from mineral interests it owns in strategic coal, oil & gas producing regions in the United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast-growing energy and infrastructure transition.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission are available at http://www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7674 or via e-mail at investorrelations@arlp.com.
Contacts
For Francis Energy contact Tom Alexander 202-262-4284
For Alliance Resource Partners, L.P. contact Brian L. Cantrell 918-295-7673
