U.S.-based EV charging companies Voltera and Revel have agreed to combine their operations to create a charging infrastructure platform focused on electric fleets and autonomous vehicles, the companies said.
The merged business will operate under the Voltera name after the transaction closes and plans to deploy more than 1,000 charging stalls across 11 major metropolitan areas in the United States.
The companies said the combined platform will concentrate on developing high-throughput fast-charging infrastructure tailored for fleet operators and autonomous mobility services in densely populated urban markets. They added that the merged network of operational and planned charging locations would form one of the largest dedicated charging footprints for fleet and autonomous vehicle operators in the country.
Frank Reig, current chief executive of Revel, will lead the combined company as CEO following the completion of the transaction. Brett Hauser, Voltera’s current CEO, will step down from the role and continue as an adviser supporting commercial strategy and transition efforts.
“Voltera and Revel have both spent years working to build charging infrastructure that works for the operators deploying fleets at scale in dense cities around the country,” said Frank Reig, incoming CEO of Voltera. “Bringing these teams together is the natural next step to deliver greater scale and stronger solutions in the key markets where fleet and autonomous vehicle customers need reliable infrastructure the most.”
The merged company also plans to expand into related business segments, including charging services for commercial EV fleets, battery storage systems, energy management services and integrated fleet support solutions.
Investment firm EQT will become the majority owner of the combined business once the transaction is completed. Global Infrastructure Partners, part of BlackRock and Revel’s existing lead investor, will retain a minority stake in the company.
“I’m proud of what the Voltera team has built, from our development pipeline to the customer relationships and infrastructure platform we’ve established,” said Brett Hauser, outgoing CEO of Voltera. “Revel is the right partner for Voltera, with both companies recognising early on the importance of their shared vision for the future of EV charging infrastructure. I’m confident in the path ahead and believe the combined platform is well-positioned for the future.”
