Terawatt Infrastructure, an autonomous and electric fleet infrastructure platform, has secured a five-year senior secured facility of up to $300 million to support the acquisition and development of charging depots across the country.
The facility includes $150 million in committed financing with an option for an incremental $150 million, provided by a syndicate of global banks led by RBC Capital Markets.
The financing is the first commercial bank credit facility for Terawatt and will expand the company’s network of charging sites serving autonomous vehicle (AV) rideshare companies and heavy-duty electric fleets.
Terawatt operates the nation’s largest network of purpose-built AV and commercial EV charging infrastructure and is the only company in the market that owns and operates every layer of the charging infrastructure stack, including real estate, power, charger and power management software, and charging operations.
“Electrification of fleets is here to stay and the infrastructure powering it has to be bulletproof. We give fleets the certainty they need to scale,” said Neha Palmer, CEO and Co-Founder of Terawatt, in a statement.
The global robotaxi market is expected to grow from roughly 7,000 vehicles in 2025 to 6 million by 2035, reaching an estimated value of $415 billion. The infrastructure supporting this growth could conservatively surpass $200 billion in investment by 2040, according to company and Bloomberg New Energy Finance estimates.
RBC Capital Markets served as sole structuring agent and coordinating lead arranger, with SMBC serving as coordinating lead arranger, administrative and collateral agent, and UBS Investment Bank as coordinating lead arranger.
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