PALO ALTO, Calif.--(BUSINESS WIRE)--Voltera, a leading developer, owner, and operator of charging and refueling infrastructure for zero-emission vehicle (ZEV) fleets, today announced that it has secured 19 new ZEV infrastructure development sites since it spun out of EdgeConneX in August 2022. This brings the company’s total portfolio to 21 sites, representing approximately $150 million of private investment in ZEV infrastructure real estate and over 115 megawatts (MW) of charging capacity being developed for ZEV fleets. Voltera’s initial sites are located across the United States, including in California, Arizona, Texas, Georgia, and Florida. The company estimates that it will double its real estate portfolio in 2024.
With strong backing from infrastructure investor EQT, Voltera takes a proactive approach to site acquisition and development to get a jump start on project timelines and rapidly deliver power to ZEV fleet customers. In 2023, the company evaluated over 1,200 sites and reinforced its ability to effectively navigate and overcome frequent challenges that exist when assessing prime real estate for ZEV infrastructure.
“Scaling access to charging and refueling depots is critical to enable fleet electrification at scale, but it’s not a one-size-fits-all equation. Each site has to be strategically located and designed to fit the size and power needs of fleets’ unique use cases,” said Hannah Jacobus, Vice President of Real Estate and Development at Voltera. “Commercial fleets – ranging from drayage to mail delivery to rideshare – have a wide range of route patterns and energy requirements, and states, municipalities, and utilities have differing zoning, permitting, and interconnection requirements. Voltera thrives amidst these complexities, leveraging deep real estate insight and strategic expertise to navigate and overcome challenges efficiently.”
“Both public and private investments are needed to scale development of ZEV charging infrastructure, which is needed to support fleets’ compliance with emerging state and federal emissions regulations,” said Tom Ashley, Vice President of Government and Utility Relations at Voltera. “Our real estate investments and close partnerships with key government and utility stakeholders strengthen our ability to develop impactful projects, especially in communities that stand to experience lasting benefits from transportation electrification.”
“The energy transition is one of the most significant challenges society faces today. At EQT, we’re investing across strategies and geographies to help drive that transition forward, including in companies helping decarbonize transport, like Voltera,” said Jan Vesely, Partner at EQT. “Voltera has seen rapid growth since launching last year, indicating strong demand for commercial ZEV operations, which are beginning to scale. Voltera’s approach to developing infrastructure is what the market wants—access to power and charging capacity, but without the hassle of having to develop, operate, and maintain it, making it easier and more cost-effective for companies to transition their fleets.”
About Voltera
Our collective future depends on carbon-free transportation. Zero-emission vehicles are here, but the solutions to support them at scale are not. Organizations that operate, sell, and/or host ZEVs – fleets, OEMs, and branded networks – are challenged to find viable off-premises refueling solutions. Voltera solves those challenges, developing, owning, and operating the infrastructure that enables customers to fully transition to ZEVs at speed and succeed with them at scale. To learn more, visit volterapower.com.
About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com. Follow EQT on LinkedIn, X, YouTube and Instagram.
