OBE Power, an owner and operator of electric vehicle (EV) charging infrastructure, has closed an equity investment from North Sky Capital, an impact investing firm, to support the growth of its EV charging network across the United States and Canada.
The investment adds to OBE Power’s existing credit facility with Gresham House.
The new capital will go toward faster deployment of chargers at multifamily, hospitality, healthcare, commercial, and other destination-based properties. The company says the deal also helps optimize its capital structure as it pursues an expansion plan over the next several years.
“We are proud to welcome North Sky Capital as a strategic partner, given its strong commitment to impact investing and deep understanding of the renewable energy and sustainable infrastructure sectors,” said Luis Paul, Cofounder and Managing Director of OBE Power, in a statement. “With this strategic investment, OBE Power has secured the capital foundation required to support its ambitious expansion goals over the next three to five years.”
OBE Power builds, owns, operates, and manages charging infrastructure on behalf of property owners and institutional partners, so hosts can offer EV charging without large upfront costs or operational burden. Its platform covers deployment, network operations, maintenance, driver support, energy reimbursement, and carbon credit income management.
Ying Lucy Fan, Principal on North Sky’s infrastructure team, added, “OBE Power’s fully owned and operated model, experienced management team, and clear growth strategy are aligned with the goals of our infrastructure investment strategy.”
Read more here.
