TeraWatt Infrastructure acquires properties in locations strategically relevant to fleets and develops the energy and charging infrastructure necessary to operate at scale.

TeraWatt Infrastructure has raised over $ 1 billion of institutional funds scale up its network of fleet-focused charging centres and operations. The company’s mission is to accelerate the decarbonisation of transport with a proprietary platform that combines an EV charging-focused property portfolio, asset financing capabilities, project development, and charging and energy management expertise. (Business Wire)

Investors in the latest funding included sustainable real assets investor Vision Ridge Partners as well as existing investors Keyframe Capital and Cyrus Capital. According to Crunchbase data, this round is the largest raised by a VC backed start-up in the EV segment this year.

TeraWatt, which launched out of stealth in May 2021, intends to use the funds for further hiring as also expand its buildout of charging centres.

“The Keyframe team began building TeraWatt in 2018, recognizing then that the demand for fleet charging hubs would rapidly outpace supply, which is now a commonly understood challenge,” said Benjamin Birnbaum, partner at Keyframe Capital and one of TeraWatt’s founders, alongside John Rapaport and Ethan Goldsmith. “Global investments in electric vehicle charging are expected to approach $1 trillion by 2040,” he added.

“The future of electrified transport is at a critical inflection point, whereby solutions for large-scale EV charging infrastructure must be established to meet the increasing demand for electrification of all fleets,” said Paul Luce, managing director at Vision Ridge Partners.

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