Financing from ING and Investec will be used by Voltera to scale charging infrastructure deployments for zero-emission vehicles.
The financing will be used to support the development of multiple Voltera-owned and operated charging sites as well as 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. ING Capital LLC (“ING”) acted as bookrunner and together with Investec Inc. (“Investec”) as lead arranger and green loan coordinator on the financing.
“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,” said Matt Horton, CEO of Voltera. “Funding from partners like ING and Investec reinforces the market’s positive response to our offering and further validates our business model.”
“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,” said 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,” further added 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,” said Hans Beekmans, Co-Head Energy and Infrastructure Finance at Investec. “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.”
Voltera’s debt facility from ING and Investec comes 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.
“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,” said Erwin Thompson, Partner at EQT. “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.”
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