What you need to know:
- Terawatt Infrastructure secures up to $300 million in financing to expand its autonomous trucking infrastructure and EV charging network across the U.S.
- Funds will support new electric truck charging depots and autonomous fleet charging sites to meet rising demand from electric and autonomous fleets
- The company operates a large-scale commercial EV charging network, integrating real estate, power systems, chargers, and energy management software
- The deal highlights growing investment in fleet electrification, autonomous vehicle infrastructure, and robotaxi charging networks
Today, San Francisco-based Terawatt Infrastructure announced it has secured financing of up to $300 million to support the expansion of its charging network for autonomous and electric vehicle fleets across the U.S.
The company confirmed it has entered into a five-year senior secured debt facility that includes $150 million in committed financing, along with an option for an additional $150 million. The financing was arranged by a syndicate of global banks led by RBC Capital Markets.
According to Terawatt, the proceeds will be used to acquire and develop new charging depots as demand grows for infrastructure supporting autonomous vehicles and commercial electric fleets.
The company operates a nationwide network of charging facilities designed specifically for autonomous vehicle operators and commercial EV fleets. Terawatt's infrastructure portfolio includes real estate, power delivery systems, charging equipment, energy management software, and charging operations.
[Related: Smart Freight Centre, Terawatt announce new EV shipper-carrier coalition]
Terawatt said its model allows fleet operators to avoid the large upfront costs associated with developing charging infrastructure by providing charging services through a managed operating model.
"This financing accelerates our path to building a durable foundation of infrastructure for the industry," said Neha Palmer, CEO and co-founder of Terawatt, in a statement.
[Related: Terawatt's first medium, heavy-duty EV charging site is up and running]
The financing comes as investment in autonomous vehicle infrastructure continues to grow alongside expectations for large-scale deployment of robotaxis and other autonomous transportation services over the next decade. Industry forecasts cited by Terawatt estimate the global robotaxi market could reach $415 billion by 2035, with autonomous vehicle fleets expanding from approximately 7,000 vehicles in 2025 to as many as 6 million vehicles by 2035.
