Terawatt Infrastructure, a charging infrastructure platform for autonomous and electric vehicle fleets, has entered into a five-year senior secured financing facility for up to $150 million, with an option to raise an additional $150 million.

The company said the proceeds will support the acquisition and development of charging depots as it expands its network of sites for autonomous and electric transportation fleets.

“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 facility marks Terawatt’s first commercial bank financing. RBC Capital Markets led the transaction and served as sole structuring agent and coordinating lead arranger, with participation from a syndicate of global banks.

SMBC served as coordinating lead arranger, administrative agent, and collateral agent. UBS Investment Bank also served as the coordinating lead arranger.

Vinson & Elkins served as counsel to Terawatt. Milbank served as counsel to the lending group. DNV Energy USA served as technical adviser to Terawatt.

The company said it owns and operates multiple parts of the charging infrastructure stack, including real estate, power, chargers, power management software, and charging operations, allowing fleet operators to treat charging services as an operating expense rather than making direct capital investments in depot infrastructure.

According to Mercom’s Q1 2026 Funding and M&A Report for Smart Grid, VC funding for Smart Grid companies increased 8% YoY, with $373 million raised in 14 deals in Q1 2026 compared to $346 million in 18 deals in Q1 2025.

In Feb 2026, India-based EV charging network operator Statiq raised about ₹18 million (~$197k) through a mix of debt and equity. The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities.