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3V Infrastructure announced its launch, dedicated to expanding Level 2 electric vehicle (EV) charging infrastructure in multifamily housing, hotels, and other long-dwell properties. The company secured up to $40 million from Greenbacker Capital Management to support this mission. 3V Infrastructure aims to bridge the gap in EV charging availability, particularly for those living in multifamily properties.
Key Highlights:
- 3V Infrastructure focuses on Level 2 EV chargers in long-dwell properties like multifamily housing and hotels.
- The company has secured a funding commitment of up to $40 million from Greenbacker Capital Management.
- 3V Infrastructure eliminates upfront and ongoing costs for property owners.
- JD Power study: Over half of respondents cited a lack of charging stations as a reason for not buying an EV.
- 27% of apartment tenants and 20% of hotel guests expressed a need for EV charging.
Currently, EV adoption is rapidly outpacing the supply of chargers. A JD Power study found that more than half of respondents cited a lack of charging station availability as a reason for not buying an EV. While private and public funding focuses on Level 3 chargers in centralized locations, most Level 2 chargers are located in single-family homes, limiting access for multifamily property residents. 3V Infrastructure addresses this by providing Level 2 chargers to a broader market.
“3V Infrastructure is hyper-focused on an overlooked and underfunded asset class of EV infrastructure: Level 2 chargers at long-dwell properties,” said Aubrey Gunnels, Co-Founder and CEO of 3V Infrastructure. “Consumer behavior and market signals indicate that drivers want to charge their vehicles like they charge their cell phones – when they’re at rest for extended periods of time.”
Research indicates that 27% of apartment tenants are interested in EV charging as an amenity, yet fewer than 5% of rental properties offer it. Similarly, 20% of hotel guests expressed a need for EV charging stations when staying overnight. 3V Infrastructure eliminates substantial upfront capital expenditures and ongoing costs for property owners. In-house experts handle operational challenges, from permitting and utility setup to ongoing maintenance and monitoring.
“Our team brings deep expertise in EV technology, real estate, construction, operations, energy, and public affairs. We’re a passionate group driven by a common mission to build for a future where EVs are ubiquitous,” says Ben Kanner, Co-Founder and COO of 3V Infrastructure. “3V Infrastructure believes that the right combination of technology, infrastructure, and capital will unlock the next generation of EV adoption.”
“Greenbacker is thrilled to partner with the founders of 3V to tackle the Level 2 charging space,” said Quinn Pasloske, Principal at Greenbacker and a member of 3V’s board of directors. “Working with real estate owners to deliver accessible, affordable charging to their tenants presents an extremely attractive risk-adjusted return. 3V brings an infrastructure mindset to an emerging market and, as an early mover, aims to capitalize on the long-term fundamental value of the sector.”
3V Infrastructure prioritizes working with real estate portfolio owners and managers with large portfolios of long-dwell properties, focusing on those with more than 20 sites to deploy projects broadly and rapidly. The company supports property owners in building the long-term infrastructure needed for future generations. For more information, visit 3V Infrastructure.
About 3V Infrastructure
3V Infrastructure is an EV charging infrastructure investor, owner, and operator enabling widespread access to EV charging. The company builds and operates Level 2 EV chargers in long-dwell properties, eliminating upfront and ongoing costs for real estate portfolio owners and managers. Backed by industry-leading investors, including Greenbacker Capital Management, 3V Infrastructure addresses the market gap by providing Level 2 chargers to a broader market.
About Greenbacker Capital Management
Greenbacker Capital Management LLC provides advisory and oversight services in the renewable energy, energy efficiency, and sustainability industries. For more information, visit Greenbacker Capital.
About Greenbacker Development Opportunities
Greenbacker Development Opportunities invests in growing sustainable infrastructure platforms across the US. Managed by Greenbacker Capital Management, LLC, it serves high-value markets. For more information, visit Greenbacker Development Opportunities.
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