Image: TerawattThe financing package includes $150 million in committed funding and an option for an additional $150 million. The facility is provided by a syndicate of international banks led by RBC Capital Markets, with SMBC and UBS Investment Bank also participating in the transaction.According to the company, the proceeds will be used to acquire and develop additional charging depots, expanding its network of purpose-built facilities designed for autonomous vehicle (AV) operators, commercial electric fleets and heavy-duty logistics providers.Terawatt describes itself as the largest operator of dedicated AV and commercial EV charging infrastructure in the United States. The company owns and operates the entire charging infrastructure stack, including real estate, grid connections, charging hardware, power management software and charging operations. Its business model is designed to allow fleet operators to access charging infrastructure through operating expenditure rather than making large upfront capital investments.Electrification of fleets is here to stay and the infrastructure powering it has to be bulletproof. We give fleets the certainty they need to scale,” said Neha Palmer, CEO and Co-Founder of Terawatt. “This financing accelerates our path to building a durable foundation of infrastructure for the industry which is emerging as an attractive new asset class.”The company argues that the growing deployment of autonomous and electric fleets will require significant investment in charging infrastructure over the coming decades. Terawatt cites estimates indicating that the global robotaxi market could grow from around 7,000 vehicles in 2025 to six million vehicles by 2035, reaching a market value of approximately $415 billion.“Terawatt controls strategically located assets in high-demand urban markets and has long-term relationships with the leading autonomous and electric fleet operators — it is an indispensable infrastructure layer for the industry,” said Nanda Kamat, Managing Director and Head of Project Finance at RBC Capital Markets. “We view charging for EV and AV fleets as an important strategic asset class, and RBC is pleased to serve as lead arranger on this facility as Terawatt expands across the US.”prnewswire.com
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