EV Realty secures $75 million investment from NGP for charging expansion
San Bernardino, Calif., site will be nation’s largest grid-connected charging hub serving more than 200 Class 8 trucks daily
EV Realty announced Thursday it has secured $75 million in growth equity from private equity investor NGP to scale its portfolio of commercial fleet charging hubs. The company also broke ground on its first large-scale project in San Bernardino, Calif., featuring 76 DC fast-charging stalls with 9.9 MW of grid capacity that can serve more than 200 Class 8 trucks daily.
“What we’ve focused on from the start is trying to address the barrier that we think really inhibits this adoption for the fleets that want to adopt, which is access to large amounts of power and a scalable solution,” said Patrick Sullivan, CEO of EV Realty, in an interview with FreightWaves.