Sign up for our popular daily email to catch all the latest EV news!
EV Realty has bolstered its mission to electrify commercial truck fleets with a substantial $75 million growth equity commitment from private equity firm NGP, complemented by investments from the company’s management team.
This funding accelerates the expansion of EV Realty’s innovative Powered Properties® portfolio, focusing on scalable charging solutions for freight and logistics operations. A key milestone in this initiative is the groundbreaking of a major 76-stall fast-charging hub in San Bernardino, California, designed to charge over 200 Class 8 trucks daily.
Launched in 2022, EV Realty specializes in turnkey charging infrastructure that leverages fleet expertise, proprietary analytics, and energy sector knowledge to develop “grid-ready” properties in prime industrial locations.
Key Highlights
- $75 million investment from NGP and EV Realty’s management to scale commercial fleet charging hubs nationwide.
- San Bernardino hub features 76 DC fast-charging ports with 9.9 MW grid capacity, targeting regional and short-haul fleets.
- Strategic location near San Bernardino Intermodal Facility, over 60 million square feet of warehouses, and Interstates 10 and 215 for optimal freight access.
- Funding support includes grants from the South Coast Air Quality Management District and a conditional award from the California Energy Commission’s EnergIIZE program.
- Recent partnerships with Prologis for seamless charging networks and acquisition of Gage Zero assets to drive consolidation and growth.
- Long-term vision emphasizes stable, cost-effective electrification amid falling battery costs and improving vehicle technology.
EV Realty’s Strategic Growth and Funding Boost
The infusion of capital positions EV Realty to address critical barriers in fleet electrification, particularly the need for reliable, low-cost grid power. By acquiring, developing, and operating charging hubs in targeted warehouse centers, the company supports customers in the freight and logistics sectors. EV Realty CEO Patrick Sullivan highlighted the undeniable shift toward electrification, noting that despite short-term market hurdles, advancements in vehicle technology and declining battery costs make the transition economically viable today. He emphasized the company’s strategy for stability in fluctuating policies and conditions, ensuring dependable charging for fleets.
NGP’s involvement underscores confidence in EV Realty’s approach. Greg Lyons, partner at NGP, expressed enthusiasm for backing the team’s innovative solutions amid grid constraints, aligning with NGP’s focus on energy transition investments. Founded in 1988, NGP has committed over $25 billion to energy innovators, reinforcing its role in advancing cleaner, more reliable energy futures.
Groundbreaking of San Bernardino Charging Hub
The San Bernardino project marks EV Realty’s first large-scale multi-fleet charging initiative, strategically sited to serve the Inland Empire’s robust freight market—home to nearly 17,000 medium and heavy-duty trucks. This hub includes megawatt charging pull-through stalls for efficient operations, enabling quick turnarounds for regional haulers from the Ports of Los Angeles and Long Beach. Scheduled to open later this year, the facility benefits from targeted funding, enhancing its viability as a cornerstone for sustainable logistics.
EV Realty’s model aggregates multiple fleets onto shared private infrastructure, slashing costs and boosting truck utilization. This approach not only streamlines operations but also fortifies the electrified supply chain’s backbone.
Recent Partnerships and Market Positioning
Building momentum, EV Realty recently partnered with Prologis to integrate charging access across networks, simplifying driver experiences at interconnected hubs. Earlier this year, the acquisition of a portfolio from charging provider Gage Zero further solidifies EV Realty’s competitive edge, facilitating asset consolidation in a dynamic market. These moves, combined with the NGP commitment, equip EV Realty to navigate industry shifts while delivering tailored solutions for commercial fleets.
As demand for electric vehicle infrastructure surges, EV Realty’s focus on high-powered, strategically located hubs positions it as a leader in fleet charging solutions.
For more details on their Powered Properties®, visit www.evrealtyus.com. Learn about NGP’s investments at www.ngpenergy.com.
Sign up for our popular daily email to catch all the latest EV news!
