San Francisco startup TeraWatt Infrastructure has raised more than $1 billion from investors to expand a network of charging centers focused on electric vehicle fleet customers, the company said Tuesday.
Four-year-old TeraWatt Infrastructure was co-founded by investment adviser Keyframe Capital and funded initially by Keyframe and Cyrus Capital. Both companies are based in New York.
New investor Vision Ridge Partners joined the latest funding round.
TeraWatt Infrastructure buys “strategically located” real estate and builds large-scale, high-power charging centers that primarily serve commercial fleets of electric trucks. The company said its properties are located in large metro areas, key highway corridors and logistics hubs.
Separately, Silicon Valley startup Ionblox said it has raised $32 million in Series B funding from strategic investors Lilium and Applied Materials, as well as Temasek, Singapore’s sovereign wealth fund.
Founded in 2017 and known formerly as Zenlabs, Ionblox is developing a pouch-type battery cell for electric vehicles, featuring a proprietary silicon oxide anode with a conventional nickel manganese cobalt cathode.
In addition to fast charging capability, Ionblox says its cell has high energy and high power, enabling its use in such applications as Lilium’s all-electric vertical takeoff and landing aircraft.
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“In 2021, the Delhi government came up with an open database for bus transit, which was a big success. The same is being used by Google, Uber and many more. With the launch of the open database for EV charging, Delhi is making a move towards solving the biggest problem of EV users, which is range anxiety.
Hitting a price around USD 30,000 and a range per charge close to 300 miles is key to getting mainstream buyers to switch away from gasoline vehicles, industry analysts say.