Terawatt Infrastructure Secures $300 Million for EV Charging Depots
A syndicate of global banks led by RBC Capital Markets has finalized a $300 million senior secured credit facility for Terawatt Infrastructure. The deal, which includes $150 million in committed funding and an incremental $150 million option, provides the capital necessary to scale a nationwide network of autonomous and electric vehicle charging hubs.
The San Francisco-based company manages a full-stack platform that handles real estate, power management, and operational software for commercial fleets. By securing this five-year facility, Terawatt aims to transition fleet operators from heavy capital expenditures to a predictable operating expense model. CEO Neha Palmer noted that the funding establishes a durable foundation for the industry, framing charging infrastructure as a distinct, emerging asset class.
Industry projections underscore the scale of the transition, with the robotaxi market expected to grow from roughly 7,000 vehicles in 2025 to 6 million by 2035. Estimates from the company and Bloomberg New Energy Finance suggest that infrastructure investment in core rideshare markets could exceed $200 billion by 2040. Nanda Kamat, Managing Director at RBC Capital Markets, described Terawatt’s strategically located urban assets as an indispensable layer for the future of transportation, marking the bank’s commitment to financing the electrification of heavy-duty and autonomous fleets.
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