#United States #Atlanta #EV Charging #Redaptive #Invisible Urban Charging

New Partnership Enhances EV Infrastructure

Invisible Urban Charging (IUC) has recently announced a strategic financing partnership with Redaptive to enhance the deployment of electric vehicle (EV) chargers in urban areas. This collaboration aims to provide a sustainable solution to the growing demand for EV infrastructure without requiring significant upfront investments from commercial property owners.

Partnership Highlights

The partnership allows sites to significantly upgrade their EV infrastructure with no upfront costs involved, essentially providing a charging-as-a-service model that liberalizes the transition to electric vehicles. IUC has built a robust portfolio of contracted EV charger deployments and will leverage this partnership to finance both ongoing and forthcoming projects across the United States and Europe.

Redaptive specializes in Energy-as-a-Service (EaaS) installations, facilitating funding for energy-saving and generating solutions. This mutual cooperation signifies a leap forward in enhancing the electric infrastructure needed for urban settings while ensuring that the initial financial burden falls on the financing provider rather than the site owners.

Expanded Deployment of Chargers

Jake Bezzant, the co-CEO of IUC, highlighted how this partnership allows for more rapid deployment of EV chargers, stating, "The IUC-Redaptive financing partnership provides us with the additional resources to meet our goal of deploying EV chargers in high-density areas."

Initial financing has already been committed to support several hundred new chargers IUC has contracted, with plans for thousands more. IUC's pipeline includes a notable project in collaboration with Icon Parking, the largest private operator of public parking facilities in New York City, to roll out 5,000 chargers across over 200 locations. The expansion plan further includes deploying 35,000 chargers at over 300 sites following Icon's acquisition of Platinum Parking.

Expanding Markets Through Collaboration

The partnership emphasizes the growing need for enhanced EV infrastructure, which extends benefits not only to property owners but also to tenants and local communities. Redaptive's approach aligns well with IUC's goal to streamline charging solutions, as Redaptive backs projects with financing solutions that cover upfront costs and provide ongoing support through smart metering.

Worth Gentry, Redaptive's Head of Product, remarked on the growing demand for upgraded EV infrastructure, noting its potential to create long-term value for various stakeholders, including commercial real estate and industrial operators. The collaboration aims to create sustainable solutions that are both financially viable and eco-friendly.

Future Commitments to EV Infrastructure

Last year, IUC set ambitious targets to deploy one million chargers over five years in partnership with CBRE, focusing on large asset-class properties. These efforts include undertaking repairs and maintenance services necessary to ensure optimal functionality of the EV charging stations once installed.

With the ongoing enhancements in infrastructure provision for electric vehicles, the opportunity to positively impact commercial properties and their sustainability efforts becomes even more prevalent. This partnership intriguingly positions the larger framework of real estate operations toward a greener future amidst the evolving transportation landscape.

About the Companies

Redaptive

Founded in 2015 and based in Denver, Colorado, Redaptive provides comprehensive energy-saving systems across large real estate portfolios. They bring together capital, intelligence, and performance to enable their clients to achieve sustainability and operational efficiency effectively. More details can be found at Redaptive.com.

Invisible Urban Charging

Established in 2019 and headquartered in Atlanta, Georgia, IUC offers a complete charging-as-a-service solution that aims to mitigate the transition costs associated with electric vehicle adoption. They partner with property owners to deploy high-volume EV charging systems efficiently, ensuring reduced environmental footprint and improving overall property value. More information is available at iucharging.com.