Zero-emission trucking solution provider Forum Mobility has secured a $15-million Series A funding round, and formed a new $400-million joint venture with CBRE Investment Management to provide zero-emission charging and vehicle solutions to drayage truck fleets and drivers.
Homecoming Capital also participated in the Series A funding round and provided $100 million to the joint venture.
Proposed regulations from the California Air Resources Board would require all of California’s 30,000 or so drayage trucks, which handle short-distance hauling around ports and logistics facilities, to be zero-emission by 2035. The California Energy Commission estimates that to comply with these and other proposed vehicle regulations, California will need 157,000 medium and heavy-duty EV chargers by 2030.
“We are building a comprehensive charging network for heavy-duty trucks to make the transition to electrification,” said Matt LeDucq, CEO and co-founder of Forum Mobility. “Fleets can bring their trucks to our network, or we can provide electric trucks bundled with charging. Today we can provide a Class 8 electric truck, and all its charging needs, at a monthly price that’s competitive with diesel.”
Source: Forum Mobility