TeraWatt Infrastructure, a company providing charging services for fleets in the U.S., has partnered with Kaptyn, an EV mobility company, to develop electric vehicle charging hubs in Las Vegas, Southern California, south Florida and other North American markets to enable the company’s expanded fleet operations.
Rideshare drivers travel about three times as many miles per day on average than private car owners, yet less than one percent of rideshare miles are driven in an electric vehicle. With a nation-wide fleet of electric vehicles driven by employees instead of contractors, Kaptyn is a sustainable mobility company focused on acquiring and electrifying the most well managed fleets in the US to accelerate the shift to a zero-carbon transportation economy.
“The soon-to-be trillion-dollar market for ridesharing can be a major driver of reducing vehicle emissions and creating a cleaner, more equitable transport system for all,” says TeraWatt CEO Neha Palmer. “We’re proud to support Kaptyn’s mission to create the next-generation sustainable mobility company and to put forth an economical and sustainable model for other ridesharing companies looking to electrify.”
Combining real estate and EV charging expertise, TeraWatt’s purpose-built platform is suited to help all fleets overcome the challenges associated with sourcing well-located, reliable EV charging solutions for fleets. Developing charging hubs in and around urban areas in a manner that takes into account common routes, usage trends and additional on-site amenities requires significant expertise in securing grid interconnection, controlling energy costs and ensuring reliable charging operations.
TeraWatt will own, develop, finance and operate EV charging assets to help the company manage demand charges and reduce peak load, while ensuring reliable and resilient energy delivery for fleet operations. TeraWatt and Kaptyn will collaborate, bringing their relative strengths in real estate, charging operations, and EV fleet management to accelerate the adoption of EVs in fleets.
“This partnership with TeraWatt is critical to the future of our business and will enable us to quickly scale our electric fleet operations to markets with high demand,” comments Kaptyn CEO Andrew Meyers. “TeraWatt’s collective energy and transportation project development expertise is unparalleled, making the company the ideal choice to be our long-term exclusive charging partner.”
TeraWatt intends to develop and own over 15 MW of initial charging capacity at sites across Kaptyn’s first three geographies and expand capacity over time to meet Kaptyn’s growth, as well as to support the co-location of other fleets.