• Up to $300 million five-year senior secured facility, with $150 million committed and $150 million incremental option, provided by a syndicate of top-tier global banks
• First-of-its-kind commercial bank credit facility to fund acquisition and development of purpose-built AV and EV charging depots across the U.S.

SAN FRANCISCO, June 24, 2026 /PRNewswire/ — Terawatt Infrastructure, the leading infrastructure platform for autonomous and electric fleets, has entered into a five-year facility for up to $150 million in committed senior secured financing, with an option for an incremental financing of up to $150 million, provided by a syndicate of top-tier global banks led by RBC Capital Markets. The proceeds will support the acquisition and development of charging depots expanding Terawatt’s network of sites to power the next generation of autonomous and electric transportation. 

Terawatt operates the nation’s largest network of purpose-built AV and commercial EV charging infrastructure, counting leading AV rideshare companies and heavy-duty fleets among its customers. Terawatt is the only player in the market that owns and operates every layer of the charging infrastructure stack, including real estate, power, charger and power management software, and high uptime charging operations. Terawatt absorbs the complexities of developing this infrastructure allowing fleet operators to turn high capital expenditures into a streamlined operating expense.

“Electrification of fleets is here to stay and the infrastructure powering it has to be bulletproof. We give fleets the certainty they need to scale,” said Neha Palmer, CEO and Co-Founder of Terawatt. “This financing accelerates our path to building a durable foundation of infrastructure for the industry which is emerging as an attractive new asset class.”

The global robotaxi market is expected to reach $415 billion by 2035, growing from roughly 7,000 vehicles in 2025 to 6 million in 2035. The infrastructure supporting this new technology is in core rideshare markets and could conservatively surpass ~$200 billion in investment by 2040, based on company and Bloomberg New Energy Finance estimates.  

“Terawatt controls strategically located assets in high-demand urban markets and has long-term relationships with the leading autonomous and electric fleet operators — it is an indispensable infrastructure layer for the industry,” said Nanda Kamat, Managing Director and Head of Project Finance, RBC Capital Markets. “We view charging for EV and AV fleets as an important strategic asset class, and RBC is pleased to serve as lead arranger on this facility as Terawatt expands across the U.S.”  

The financing is the first commercial bank facility for Terawatt. RBC Capital Markets, LLC served as the sole structuring agent and coordinating lead arranger, with SMBC as coordinating lead arranger, administrative and collateral agent, and UBS Investment Bank as coordinating lead arranger.

Vinson & Elkins LLP served as counsel to Terawatt, Milbank LLP served as counsel to the lending group, and DNV Energy USA Inc. (“DNV”) served as technical advisor to Terawatt.

About Terawatt Infrastructure

Terawatt is the leading full-stack infrastructure platform powering AV and EV fleets. The company acquires, develops, and operates purpose-built depots for autonomous vehicles, heavy-duty logistics, and commercial electric fleets, delivering faster site deployment, a lower cost-per-mile, and commercial-scale operational reliability. With the nation’s largest network of purpose-built charging sites, Terawatt is powering and accelerating the transition to electrified transportation. For more information, visit Terawatt’s website and LinkedIn.

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SOURCE Terawatt Infrastructure