3V Infrastructure, a new electric vehicle (EV) charging infrastructure owner and operator, announced its formation with the goal of accelerating widespread access to EV charging. Created with top-tier talent, 3V Infrastructure builds and operates Level 2 EV chargers in long-dwell properties like multifamily housing and hotels, eliminating upfront and ongoing costs for real estate portfolio owners and managers. The company has also secured a commitment of up to $40 million from an affiliate of Greenbacker Capital Management, which provides strategic growth capital to leading energy transition companies.
Access to EV charging infrastructure is currently limited, with EV adoption quickly outpacing the supply of chargers.
There has been a major focus from private and public funding sources on developing Level 3 chargers in centralized and public locations mirroring a gas station model and most Level 2 chargers are currently located in single-family homes, limiting access for drivers living in multifamily properties. 3V Infrastructure aims to address this gap by providing Level 2 chargers to a broader market, unlocking new customers and opportunities.
Real estate portfolio owners and managers are controlling access to this demand, but building and maintaining EV infrastructure is complex, time-intensive, expensive, and generally non-core to operations. 3V Infrastructure eliminates substantial upfront capital expenditures and ongoing costs for property owners. And in-house experts work with a trusted network of technology and deployment partners to handle operational obstacles, from permitting and utility setup to ongoing maintenance and monitoring.
3V is prioritizing work with real estate portfolio owners and managers that have large portfolios of long-dwell properties like apartments and hotels. And 3V focuses on property owners and managers with over 20 sites in an effort to deploy projects broadly and rapidly. And property owners need support to start building today while preparing for the long-term infrastructure needed for future generations; this is what 3V was built to solve, redefine, and accelerate.
KEY QUOTES:
“3V Infrastructure is hyper-focused on an overlooked and underfunded asset class of EV infrastructure: Level 2 chargers at long-dwell properties. 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.”
- Aubrey Gunnels, Co-Founder and CEO of 3V Infrastructure
“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. 3V Infrastructure believes that the right combination of technology, infrastructure, and capital will unlock the next generation of EV adoption.”
- Ben Kanner, Co-Founder and COO of 3V Infrastructure
“Greenbacker is thrilled to partner with the founders of 3V to tackle the Level 2 charging space. 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.”
- Quinn Pasloske, Principal at Greenbacker and a member of 3V’s board of directors
