Voltera merges with Revel in EV charging deal
Creates a US fast-charging network with over 1,000 charging stalls across 11 metros for fleet, autonomous vehicle and ride-hail customers.
Takeaways
- Revel is a electric vehicle fast-charging provider for fleet, autonomous vehicle and ride-hail customers.
- Voltera is acquiring Revel with backing from EQT.
- The target serves fleet, autonomous vehicle, ride-hail across United States.
EV fast-charging providers Voltera and Revel signed a definitive agreement to combine, bringing Revel’s fleet, autonomous vehicle and ride-hail charging business into a company operating under the Voltera name.
The combined business will have over 1,000 charging stalls across 11 US metros, with a focus on dense urban markets for fleet and autonomous vehicle customers.
EQT will be majority owner of the combined company, while Global Infrastructure Partners, a BlackRock unit and Revel’s existing lead sponsor, will retain a minority stake.
Frank Reig, Revel’s chief executive, will lead the combined business as Voltera’s incoming chief executive.
Brett Hauser, Voltera’s current chief executive, will move into a senior commercial advisory role.
Terms were not disclosed.
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