Petros Partners Invests In EV Charging Company Oasis Charger

By Noah Long ● August 5, 2019
  • Petros Partners announced recently that it has invested in Oasis Charger Corporation, a Connecticut-based electric vehicle (EV) charger manufacturer

Petros Partners recently announced that it has invested in Oasis Charger Corporation, which is a Connecticut-based electric vehicle (EV) charger manufacturer that is based in South Norwalk and runs an R&D facility in Hartford. Oasis is planning to use the investment for scaling its Juice Bar brand that leases EV charging solutions to commercial property owners to modernize their parking facilities and meet the growing demand for EV charging.

“This transaction is a perfect example of Petros’ broad focus on providing capital to companies in a manner which combines attractive returns on capital with measurable ESG impact goals,” said Petros Partners co-founder and CFO Jim Stanislaus. “We are seeing continued strong investment opportunities across Petros’ small business and C-PACE investment platforms nationwide for companies whose focus includes strong financial performance plus responsible environmental, social and governance operating initiatives.”

The funding comes from the Petros Connecticut Fund I — an $18 million investment fund focused on supporting the growth of Connecticut businesses. And the Petros Connecticut Fund operates under the state’s Insurance Reinvestment Tax Credit Program and is in place for encouraging and assisting in the creation, development, and expansion of Connecticut businesses by providing them access to both capital and operational expertise.

ADVERTISEMENT

“With the fast growth of the EV market, our leasing program provides commercial real estate owners a cost-effective and worry-free option to provide what is, increasingly, a requirement in every parking lot,” added Paul Vosper — the President and CEO of Oasis Charger Co. “The funding we have received from Petros is a critical step in scaling our leasing program to meet these demands. Petros’ thoughtful and flexible approach to this new market was vital in our ability to provide creative solutions to our customers.”

Oasis Charger was launched in 2009 by real estate and clean energy industry leaders to develop sustainable parking and promote electricity mobility. And its electric vehicle chargers are made and assembled in the US and are sold internationally under the Juice Bar brand. Plus Oasis Charger provides a full range of EV chargers and electrification solutions to commercial property owners and its products are now deployed across 72 cities in the US and Canada.

“Petros is excited to partner with Oasis Charger Corporation to help further their goal of meeting the growing demand for electric car charging stations here in Connecticut and broadly throughout the U.S.,” noted Petros Connecticut Fund managing director Barry Schwimmer. “We have worked with Paul Vosper, Jeff Mayer and their team for several years. They are pioneers in EV charging and it’s an honor to partner with them on this truly transformational opportunity.”

Oasis Charger provides a wide range of EV chargers and electrification solutions to commercial property owners including Level 2, 24 kW and Level 3 DC Fast Chargers, smart networks, building, and parking management system integration as well as solar canopies and charger hubs.