Voltera and Revel have agreed to merge their businesses to form an EV charging infrastructure platform aimed at autonomous vehicles, electric fleets and ride-hail operators in major US cities.

The combined company will operate under the Voltera brand. It is expected to include more than 1,000 charging stalls across 11 major US markets, the companies said.

Financial terms of the transaction were not disclosed.

The new platform will focus on building, owning and operating fast-charging infrastructure designed for fleet operations in dense urban areas.

After the deal closes, Revel chief executive Frank Reig will lead the combined company.

Reig said: “Voltera and Revel have both spent years working to build charging infrastructure that works for the operators deploying fleets at scale in dense cities around the country.

“Bringing these teams together is the natural next step to deliver greater scale and stronger solutions in the key markets where fleet and autonomous vehicle customers need reliable infrastructure the most.”

‍Voltera chief executive Brett Hauser will move into a senior commercial advisory role following completion of the transaction.

The companies said the business will follow a customer-focused strategy. Market selection, site design and deployment timing will be shaped by the needs of fleet and autonomous vehicle customers.

Investment will be directed towards a selected group of urban markets.

The combined company will use a “capital-efficient” growth model, prioritising sites suited to fleet and autonomous vehicle operations.

Over time, it plans to deploy capital across a targeted group of core urban markets as it builds a larger fast-charging network.

Beyond autonomous and ride-hail fleet charging, the merged company will explore EV charging for non-autonomous fleets, battery storage, energy management and integrated fleet services.

Under the deal, EQT will be the majority owner of the combined company.

Global Infrastructure Partners, part of BlackRock and Revel’s existing lead sponsor, will retain a minority stake.

Erwin Thompson, partner at EQT, said: “The electrification of urban mobility is one of the most capital-intensive infrastructure buildouts of this decade, and the operators who move first in the right markets, and with the right assets, will define the category. “Together, we believe that Voltera and Revel will be well-positioned to lead the next phase of urban EV infrastructure deployment.”

“Voltera and Revel to merge EV charging businesses” was originally created and published by Just Auto, a GlobalData owned brand.