The electric truck revolution has a real estate problem - and EV Realty thinks it's found the solution. The startup just closed a $75 million funding round to build charging hubs on underutilized grid capacity near warehouses, creating what could become an entirely new asset class for commercial real estate investors.
Electric commercial trucks are hitting their stride, but there's a catch - the charging infrastructure isn't keeping up. EV Realty is betting big that the missing piece isn't just more chargers, but smarter real estate strategy around where to put them.
The California-based startup just secured $75 million in funding led by private equity firm NGP, with the company's management team participating. It's a significant vote of confidence in what founder Patrick Sullivan calls a "new sort of infrastructure class for real estate."
The funding comes at a critical moment for electric trucking. While only a few thousand electric commercial vehicles currently operate nationwide, over half of fleets are actively piloting the technology, according to McKinsey research. That pilot-to-production transition is creating infrastructure headaches that traditional charging companies haven't solved.
"We see, frankly, more interest right now from the customers that have made the switch," Sullivan told TechCrunch in an exclusive interview. "They see the opportunity and want to do more."
The company's approach mirrors Digital Realty's playbook for data centers - find underutilized grid capacity and build specialized infrastructure that multiple tenants can share. EV Realty currently operates five charging hubs across California, all strategically located near warehouses, ports, and industrial properties where truck traffic naturally concentrates.
Their secret weapon is proprietary software that maps electrical grid availability against vehicle density, traffic patterns, and real estate use. It's this data-driven site selection that led them to their next major project - a 76-stall fast-charging hub in San Bernardino that will feature four "pull through" stalls equipped with Megawatt Charging System plugs.
Those pull-through stalls solve a practical problem that's been slowing electric truck adoption - drivers can charge without unhooking their trailers. When fully operational, the San Bernardino hub should handle more than 200 Class 8 trucks daily, making it one of the largest commercial EV charging facilities on the West Coast.
