TeraWatt raises $1 bn to expand EV charging centers

bp EV charging infrastructure

TeraWatt Infrastructure has raised more than $1 billion from investors to expand a network of charging centers focused on electric vehicle fleet customers.

Four-year-old TeraWatt Infrastructure was co-founded by investment adviser Keyframe Capital and funded initially by Keyframe and Cyrus Capital. Both companies are based in New York.

New investor Vision Ridge Partners joined the latest funding round.

San Francisco startup TeraWatt Infrastructure buys real estate and builds charging centers that primarily serve commercial fleets of electric trucks. The company said its properties are located in large metro areas, key highway corridors and logistics hubs.