WattUp USA has secured a $130 million structured capital facility to deploy ultra-fast EV chargers at retail and commercial locations across the Western U.S. The funding, arranged by Founders First Advisory, supports the company’s Phase 1 rollout targeting 100 high-traffic sites in California, New Mexico, and Washington.
Highlights
- $130 million capital facility arranged by Founders First Advisory to fund Phase 1 commercial charging deployment
- 100 retail locations targeted, including shopping centers, grocery stores, restaurants, and mixed-use destinations
- Battery-integrated DC fast charging designed to reduce costs and improve grid efficiency
- Turnkey model covers site evaluation through long-term operations at no upfront cost to property owners
Funding and Deployment Strategy
The capital facility accelerates WattUp USA’s expansion from pilot sites to a broader network across three Western states. The company integrates ultra-fast DC fast charging with onsite battery storage at each location.
WattUp USA manages the full project lifecycle. That includes site evaluation, engineering, utility coordination, permitting, equipment procurement, construction, commissioning, and ongoing operations. Property owners receive a revenue stream with no upfront investment.
“EV charging infrastructure must be deployed thoughtfully and backed by real capital to meet growing demand,” said Corbin Cowan, Chief Executive Officer of Founders First Advisory. “WattUp USA combines experienced leadership with a practical deployment strategy. And with this funding, the company is now well-capitalized to achieve their expansion targets.”
Retail-First Approach
The company’s model targets locations with established traffic patterns. The goal is to align charging access with consumer behavior — shopping, dining, and errands.
“EV charging is a complex industry, and commercial property owners are looking for experienced partners who can execute from site design through electrical interconnection,” said Harshil Goel, Co-Founder and CEO of WattUp USA. “This capital allows us to expand from our pilot sites to a network of hundreds of locations across California, New Mexico, and Washington.”
“Retail parking lots are quickly becoming one of the most valuable infrastructure assets in the energy transition,” said Ken Cheng, Co-Founder and COO of WattUp USA. “Our goal is to help landowners and property owners unlock that value and enhance their locations to serve the rapidly growing EV driver community.”
Market Context
EV adoption continues to expand across major U.S. markets as automakers increase electric vehicle production and states raise electrification targets. As a result, demand for strategically located charging infrastructure is expected to grow over the coming decade.
For more information, visit WattUpUSA.com.
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