From The Mobilist Inbox This Week
Business of charging, the new $100, scholarly lingo
The business of charging: While most of the electrification industry has had its eyes fixed on electric vehicle makers and battery companies, some other, low-profile actors backed by big money have been looking for other angles to earn a fortune. Among them are EV charging network companies and recyclers. San Francisco-based TeraWatt Infrastructure falls generally into the former category: With $100 million in investment capital, TeraWatt is setting out to finance and build gigantic charging centers for the cargo industry — serving everything from Amazon delivery vans to semi-trucks.
In a video conversation yesterday, CEO Neha Palmer told me TeraWatt has been acquiring land in major logistic hubs and along the country’s major highway arteries in 18 states. The target market is fleet owners that are acquiring electric vehicles. TeraWatt would be able to build charging infrastructure, on-site power generation, and connections to the grid. Backing the venture is Keyframe and Cyrus Capital, both investment firms in New York. “Our key offering is an easy way to electrify,” said Palmer, who formerly was Google’s Head of Energy Strategy, building out the search giant’s data centers. “We own it. We can help you finance it.”
