Voltera, a leading developer, owner, and operator of charging infrastructure for zero-emission vehicle (ZEV) fleets, announced it has secured a $100 million debt facility to support capital expenditure deployment on assets backstopped by customer contracts. This is a first-of-its-kind for the electric vehicle (EV) charging industry.
This financing will support developing multiple Voltera-owned and operated charging sites, continued corporate growth, and other initiatives. Under the terms of the agreement, Voltera will have the option to increase commitments over time as the facility is utilized.
Voltera’s debt facility from ING and Investec is in addition to its ongoing equity support from EQT, which provides access to billions of dollars of equity capital that EQT has raised for sustainable infrastructure development.
ING Capital acted as Bookrunner and, together with Investec, as Lead Arranger and Green Loan Co-Coordinator on the financing.
KEY QUOTES:
“Our mission is to help customers succeed in a carbon-free transportation future by removing the time and financial burden of having to develop, own, and operate charging infrastructure entirely. Expanding our sources of capital enables us to extend these benefits to a greater number of customers as we continue to scale. Funding from partners like ING and Investec reinforces the market’s positive response to our offering and further validates our business model.”
– Matt Horton, CEO of Voltera
“ING is pleased to support Voltera’s vision to deliver a scalable solution for businesses looking to increase their adoption of or conversion to electric vehicle fleets. The ability to deliver large-scale charging infrastructure and networks for electric vehicles will help break down current obstacles for commercial adoption.”
– Jason Aingorn, Managing Director at ING
“This green financing marks a significant milestone in the decarbonization of the US transportation industry. ING’s deep knowledge in structuring financing arrangements to support infrastructure development combined with our sustainable finance expertise contributed to the success of this transaction.”
– Levina Felix, Director on ING’s Sustainable Finance team
“Our partnership with Voltera aligns with Investec’s commitment to advancing electric infrastructure and supporting the transition to a sustainable economy. We are delighted to have supported the Voltera team with its deep expertise in the sector and proven ability to efficiently deliver power to its customers and look forward to partnering further as they expand their portfolio.”
– Hans Beekmans, Co-Head Energy and Infrastructure Finance at Investec
“Solving for the energy transition creates one of the most attractive investment opportunities of our time, and private capital will play a big role in ensuring all sectors reach their net-zero goals on time. Voltera’s focus on driving high utilization, by strategically siting charging stations in areas where fleet demand is either established or anticipated, means it can support more EVs with less capital, optimize operational costs and environmental benefits, and increase returns for investors.”
– Erwin Thompson, Partner at EQT
