EV charging firm 3V Infrastructure has been formed in the US, with a mission to build and operate Level 2 EV chargers in long-dwell properties such as multifamily housing and hotels, reducing costs for real estate portfolio owners and managers.

The company has a funding commitment of up to $40 million from an affiliate of Greenbacker Capital Management.

While there is a strong focus from private and public funding sources on building DC fast chargers in at centralized, public locations, mirroring a gas station model, most Level 2 chargers are currently located in single-family homes, limiting access for drivers living in multifamily properties, the company said.

3V is prioritizing work with real estate portfolio owners and managers that have portfolios of more than 20 sites, in order to deploy projects broadly and rapidly.

 “3V Infrastructure is focused on an overlooked and underfunded asset class of EV infrastructure: Level 2 chargers at long-dwell properties,” said Aubrey Gunnels, the company’s co-founder and CEO. “Consumer behavior and market signals indicate that drivers want to charge their vehicles the way they charge their cell phones—when they’re at rest for extended periods of time.”

Source: 3V Infrastructure