KfW IPEX-Bank has announced a $50 million financing deal for Voltera, a company focused on developing and operating charging infrastructure for zero-emission vehicle fleets in the United States. This new financing is an addition to a previously established $100 million debt facility provided by ING and Investec, bringing the total to $150 million. The funds are intended to support Voltera's capital expenditure on assets, which are backed by customer contracts.
Andreas Ufer, a member of the Management Board of KfW IPEX-Bank, emphasized the importance of EV charging infrastructure in decarbonizing mobility. He stated, "We consider EV charging infrastructure a key component for decarbonizing the mobility sector and are therefore glad to have won Voltera as our first customer in this segment in the US." He also highlighted the bank's ongoing relationship with EQT and EdgeConneX.
Voltera was established in 2022 as a spinout from EdgeConneX, leveraging its expertise in securing land and power for building EV charging infrastructure. Tyler Sentman, Senior Director of Strategic Finance at Voltera, explained that their model involves handling upfront costs for large capacity EV charging sites. He said, "The financing by KfW IPEX-Bank adds to our overall financial resources and further enables us to expand and serve a growing number of customers."
Recently, Voltera announced two new EV charging sites designed for Class 8 trucks near the Port of Long Beach and Port of Sacramento. These additions bring their total number of sites to 22. The sites cater to various clients involved in trucking, bus transit, delivery logistics, utilities, construction, rideshare services, and autonomous passenger cars.
Voltera is supported by EQT with plans to invest significantly in expanding its infrastructure capabilities. The company aims to address challenges related to scaling zero-emission transportation through strategically located facilities.