North Sky Closes EV Charging Investment
Minneapolis, MN – North Sky Capital (“North Sky” or “the Firm”), a pioneer in impact investing in the United States, has closed an electronic vehicle (“EV”) charging investment in OBE Power (“OBE”), a leading owner and operator of electric vehicle charging infrastructure.
The investment will support OBE’s continued growth and the expansion of its fully owned and operated EV charging network across the United States and Canada with a focus on multifamily, hospitality, healthcare, commercial and other destination-based properties.
OBE’s business model is focused on deploying, owning, operating and managing EV charging infrastructure for property owners and institutional partners, allowing hosts to provide EV charging solutions without making significant capital investments or assuming operational complexity. The platform combines infrastructure deployment, network operations, maintenance, driver support, energy reimbursement and carbon credit income management.
“North Sky has evaluated the EV charging sector for several years, and we believe OBE Power presents a compelling and well-structured expansion opportunity in the market,” said Adam Bernstein, Managing Director of North Sky. “OBE’s fully-owned and operated model, experienced management team and clear growth strategy are aligned with the goals of our infrastructure investment strategy.”
Lucy Fan, Principal on North Sky’s sustainable infrastructure team added, “As the number of electric vehicles on U.S. roads continues to climb, EV adoption has outpaced the build-out of charging stations. By partnering with OBE we will expand availability of an EV charging infrastructure, which is essential to accelerating the transition away from fossil fuels.”
About North Sky
North Sky is a pioneer in impact investing in the United States. Now in its 26th year, North Sky has deployed more than $1.7 billion across approximately 200 impact investments on behalf of its various impact funds. The Firm’s flagship strategies support positive environmental and social impact while targeting market-rate investment returns. North Sky has been an active impact investor since the beginning of the modern era of private markets impact investing in 2005. For more information, visit northskycapital.com.
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