TeraWatt Infrastructure says it has secured more than $1 billion of institutional capital to support the buildout of its fleet-focused charging centers and operations. The company says it expects to use the over $1 billion committed to accelerate its next phase of development and expansion, which is focused on the buildout of a growing portfolio of charging centers and adding talent to the team.

TeraWatt works with fleets across light-, medium-, and heavy-duty vehicles, leveraging a property portfolio that spans core metro areas, logistics hubs, and key highway corridors. The company says it develops and owns charging centers, bringing these online with in-house expertise and experience, enabling fleets to avoid capital expenditure and focus on their own operations.