TeraWatt raises $1B+ to scale commercial EV charging centers across US
14 September 2022
TeraWatt Infrastructure has secured more than $1 billion of institutional capital to support the buildout of its fleet-focused charging centers and operations. Funds managed by Vision Ridge Partners have invested in TeraWatt alongside existing investors Keyframe Capital and Cyrus Capital, both of which have increased their commitments to the company.
TeraWatt expects to use the more than $1 billion committed to accelerate its next phase of development and expansion, which is focused on the buildout of a growing portfolio of charging centers and hiring to support this work.
Rendering of a TeraWatt center
Launched out of stealth in May 2021, TeraWatt is accelerating the decarbonization of transport with a purpose-built platform that combines an EV charging-focused property portfolio, asset financing capabilities, project development, and charging and energy management expertise.
The company acquires properties in locations strategically relevant to fleets and develops the energy and charging infrastructure necessary to operate at scale. TeraWatt’s Charging Centers provide reservable and reliable space as well as high-power charging levels at optimal locations for commercial electric vehicle fleets.
TeraWatt works with fleets across light-, medium-, and heavy-duty vehicles, leveraging a property portfolio that spans core metro areas, logistics hubs, and key highway corridors. The company develops and owns charging centers, bringing these online with in-house expertise and experience, enabling fleets to avoid capital expenditure and focus on their own operations.