Voltera has announced that it has secured 19 new ZEV infrastructure development sites since it spun out of EdgeConneX in August 2022.

Voltera, is a developer, owner, and operator of charging and refueling infrastructure for zero-emission vehicle (ZEV) fleets.

This new move brings the company’s total ZEV portfolio to 21 sites. All told, the company said, these sites represent approximately $150 million of private investment in ZEV infrastructure real estate and over 115 megawatts (MW) of charging capacity being developed for ZEV fleets.

Voltera’s initial sites are located across the United States, including in California, Arizona, Texas, Georgia, and Florida. The company estimates that it will double its real estate portfolio in 2024.

A $150 Million Investment

With backing from infrastructure investor EQT, Voltera said it intends to take a proactive approach to site acquisition and development to get a jump start on project timelines and rapidly deliver power to ZEV fleet customers.

In 2023, the company evaluated over 1,200 sites and reinforced its ability to effectively navigate and overcome frequent challenges that exist when assessing prime real estate for ZEV infrastructure.

“Scaling access to charging and refueling depots is critical to enable fleet electrification at scale, but it’s not a one-size-fits-all equation,” said Hannah Jacobus, vice president, real estate and development at Voltera. “Each site has to be strategically located and designed to fit the size and power needs of fleets’ unique use cases. Commercial fleets – ranging from drayage to mail delivery to rideshare – have a wide range of route patterns and energy requirements, and states, municipalities, and utilities have differing zoning, permitting, and interconnection requirements. Voltera thrives amidst these complexities, leveraging deep real estate insight and strategic expertise to navigate and overcome challenges efficiently.”

“Both public and private investments are needed to scale development of ZEV charging infrastructure, which is needed to support fleets’ compliance with emerging state and federal emissions regulations,” added Tom Ashley, vice president of government and utility relations at Voltera. “Our real estate investments and close partnerships with key government and utility stakeholders strengthen our ability to develop impactful projects, especially in communities that stand to experience lasting benefits from transportation electrification.”

“The energy transition is one of the most significant challenges society faces today,” said Jan Vesely, partner at EQT. “At EQT, we’re investing across strategies and geographies to help drive that transition forward, including in companies helping decarbonize transport, like Voltera. Voltera has seen rapid growth since launching last year, indicating strong demand for commercial ZEV operations, which are beginning to scale. Voltera’s approach to developing infrastructure is what the market wants—access to power and charging capacity, but without the hassle of having to develop, operate, and maintain it, making it easier and more cost-effective for companies to transition their fleets.”