EV Realty recently secured $75 million in a funding round. Private equity investor NGP led the investment, with EV Realty’s management team also contributing. This capital fuels the company's expansion of EV truck charging hubs across California.
Electric commercial trucks are gaining traction. However, operators face challenges building charging infrastructure. Grid constraints often limit new developments. EV Realty addresses this by developing properties into multi-fleet EV truck charging hubs.
Strategic Charging Hub Development
The company currently operates five charging hubs in California. These facilities are strategically located near warehouses, ports, and industrial properties. The new funding will support additional EV truck charging hubs.
This expansion includes a 76-stall fast-charging site in San Bernardino, California. This hub will feature four "pull through" stalls. These stalls incorporate Megawatt Charging System (MCS) plugs. Consequently, semi-trucks can charge without unhooking trailers. The hub expects to charge over 200 Class 8 trucks daily.
EV Realty models its operations after Digital Realty. The company utilizes in-house software to identify optimal locations.
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This software maps the electrical grid, vehicle density, and traffic patterns. It also identifies real estate use and potential customers. This approach helps secure optimal sites for charging infrastructure.
While some fleets hesitate to adopt electric trucks, demand is growing. EV Realty focuses on customers already transitioning to electric vehicles. Competitors like ChargePoint and Electrify America also address EV charging needs. However, EV Realty specializes in commercial truck fleet solutions.
