Northleaf Capital Partners, a prominent global private markets investment company, is set to acquire a dominant share in EVPassport, Inc., an electric vehicle charging platform. Northleaf’s funds have committed $200 million to expedite the establishment of EV charging networks across North America.
Why It Matters This significant investment and collaboration emphasize the need and potential for a robust, integrated EV charging infrastructure in the region. As electric vehicles gain traction, having accessible and reliable charging solutions becomes paramount for both commercial and individual users.
Key Points
- EVPassport, co-founded by Hooman Shahidi and Aaron Fisher, prioritizes the deployment of Level 2 and Level 3 EV chargers throughout North America.
- The company offers a comprehensive EV charging solution for both enterprise and commercial entities, leveraging an innovative “Infrastructure-as-a-Service” model.
- EVPassport’s tech platform emphasizes an exceptional user experience with high reliability, open API integrations, and a seamless charging procedure without the need for an app.
- Since its establishment in 2020, EVPassport has expanded its reach to 35 states, including Canada and Mexico. Their focus has been mainly on the multi-family, hospitality, and retail sectors, achieving a remarkable 99.97% uptime.
- Some of their prominent clients are Viejas Casino and Resort, National Development, Ace Parking, Millennium Park Garages, and Nuveen.
Bottom Line Northleaf’s strategic investment in EVPassport not only aligns with their infrastructure strategy but also underscores the belief in the future of electric vehicles and the necessity of reliable charging infrastructures. As electric vehicles become more commonplace, the demand for dependable charging platforms will undoubtedly rise, making partnerships like this crucial for sustainable growth in the sector. EVPassport’s existing track record and the backing of a global investor like Northleaf suggest a promising future for the EV charging landscape.
