EV Realty Raises $75 Million In Growth Funding

EV Realty’s $75 million growth equity round marks a significant step in expanding its network of Powered Properties—dedicated, high-power EV charging hubs designed for commercial fleets such as delivery and logistics operators. Led by NGP, a firm focused on energy transition investments, the round included participation from EV Realty’s internal management team, signaling strong alignment between leadership and investors. This infusion complements earlier financings and enables the company to accelerate development in high-demand freight corridors, particularly in California, where grid capacity and regulatory support are key enablers.

CEO Patrick Sullivan, with prior roles in renewables, leads a 24-person team blending grid experts and real estate pros. Recent expansions include CALSTART collaboration for demand aggregation and Gage Zero asset buyout, consolidating market share.