TeraWatt Generates $1 Billion to Increase Business EV Charging

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TeraWatt Infrastructure, which constructs electric vehicle charging stations for fleets, has raised more than $1 billion in a Series A round to expand its portfolio of commercial charging hubs.

A $100 million seed round from Keyframe Capital and Cyrus Capital, which continued into the current round with Vision Ridge Partners, preceded the most recent capital infusion.

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Private passenger EV charging stations are becoming more widely available and well-developed.

However, as more fleet-friendly electric vehicle models start to hit the market, TeraWatt will be in demand as charging stations for the commercial sector.

“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, in a statement.

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Since coming out of stealth in May 2021, TeraWatt has acquired property’s in prime locations.

These locations are located along major roads and have continued to expand their charging station network.

The $1 billion in funding will help TeraWatt develop charging infrastructure in its current portfolio and acquire new properties, according to Neha Palmer, TeraWatt’s CEO and former head of energy strategy at Google.

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