OBE Power, an operator of electric vehicle charging networks in the United States, has finalized a new equity investment round. The funding was provided by North Sky Capital, a firm specializing in sustainable infrastructure and renewable energy.
The company plans to utilize these funds to accelerate the growth of its charging network across North America. The expansion strategy focuses on destination-based properties, including healthcare facilities, hospitality venues, multifamily housing, and commercial sites.
This new capital injection supplements an existing credit facility that OBE Power maintains with Gresham House. According to the company, the investment provides the necessary financial foundation to support its growth objectives over the next three to five years.
The business model of OBE Power involves deploying, owning, and managing charging infrastructure on behalf of institutional partners and property owners. This approach allows site hosts to offer charging services without undertaking significant capital expenditures or operational management.
