EV Realty Raises $75 Million from NGP to Scale Fleet Charging, Breaks Ground on Major Charging Hub in San Bernardino

Growth equity commitment positions EV Realty to expand its strategic buildout of commercial fleet charging hubs

SAN FRANCISCO, Sept. 18, 2025 (GLOBE NEWSWIRE) -- EV Realty today announced that it has secured an additional $75 million growth equity commitment from private equity investor NGP alongside contributions from EV Realty’s management team. This significant infusion of capital enables EV Realty to scale its Powered Properties^® portfolio, including construction of the company’s first multi-fleet charging project, a 76-stall fast-charging hub for commercial fleets in San Bernardino, California capable of charging more than 200 Class 8 trucks per day.

EV Realty launched in 2022 to provide turnkey, scalable charging solutions for commercial truck fleets. By combining fleet operational knowledge, proprietary analytics and deep energy sector expertise, EV Realty acquires, develops and operates optimally sited “grid-ready” properties in targeted industrial warehouse centers that support its freight and logistics customers.

“The market is experiencing near-term challenges, but the longer-term trend toward fleet electrification is unmistakable – vehicle technology is improving, battery costs are falling and we’re enabling customers to make the transition economically today. Our strategy is built for stability amid changing policies and industry conditions, ensuring we can deliver reliable, cost-effective charging solutions for fleets,” said EV Realty CEO Patrick Sullivan. “As a long-term partner, NGP shares our vision, and today’s groundbreaking on our first large-scale site in San Bernardino is a major step toward making this vision a reality.”

Today is the official groundbreaking for EV Realty’s first large-scale truck charging hub, strategically located near the San Bernardino Intermodal Facility, more than 60 million square feet of nearby industrial warehouses, and Interstates 10 and 215, a major freight lane from the Ports of Los Angeles and Long Beach. With 9.9 MW of grid capacity and 76 DC fast charging ports, including megawatt charging pull-through stalls, the project will serve regional and short-haul fleet customers in a key Inland Empire freight and logistics market – home to nearly 17,000 medium and heavy-duty trucks. EV Realty’s San Bernardino charging hub has funding support from the South Coast Air Quality Management District and was selected for a conditional award for the EnergIIZE Commercial Vehicles Project, funded by the California Energy Commission. It is scheduled to open later this year.

“‍NGP has been at the forefront of backing innovative companies tackling the energy transition. We are excited to increase our commitment to EV Realty – we are bullish about the team and their thoughtful approach to supporting commercial fleet customers’ transition to electric vehicles in a time of increasing constraints on the electrical grid,” said Greg Lyons, partner at NGP.

This announcement builds on strategic steps EV Realty has taken to strengthen its position in a shifting market – expanding partnerships, consolidating assets, and leveraging state and regional programs to deliver projects that work for fleets today. Last month, EV Realty and Prologis announced a partnership to streamline fleet charging access across networks, enabling seamless charging for drivers at both company’s charging hubs. Earlier this year, EV Realty acquired a portfolio of assets from charging provider Gage Zero, positioning the company for further growth and consolidation in an increasingly competitive space.

About EV Realty

EV Realty develops, owns, and operates high-powered EV charging hubs designed to solve a critical barrier to fleet electrification: access to reliable, low-cost, scalable grid power. Our Powered Properties^® are strategically located near major freight corridors and industrial centers, providing our customers with dedicated, secure charging solutions where and when they need it most. By aggregating multiple fleets onto shared, private infrastructure, we reduce costs, improve truck utilization, and deliver services that critical commercial fleets require to keep moving. Learn more about how we’re building the backbone of the electrified supply chain at www.evrealtyus.com

About NGP

NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $25 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future. For more information, visit www.ngpenergy.com.

Media Contact:

evr@fischtankpr.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.