Commercial transportation electrification company and private equity firm team up to provide turnkey electric vehicle charging, leasing, and infrastructure development for fleets across the United States
AUSTIN, Texas, May 3, 2023 /PRNewswire/ — Gage Zero LLC (“Gage Zero”), a privately held company enabling the turnkey electrification of commercial transportation vehicles, today announced an investment led by ARC Financial Corp. (“ARC”), a North American energy-focused private equity manager. Along with financial partners, the companies plan to deploy upwards of $300 million in equity to develop electric vehicle (EV) charging infrastructure solutions for fleet customers.
The Gage Zero team, led by founder and Chief Executive Officer Zeina El-Azzi, has experience building a combined USD $10 billion of utility-scale renewable energy and energy storage projects across the United States and around the globe. With its proven capabilities, the company is focused on deploying complex energy infrastructure economically and at scale.
“We are excited to be partnering with ARC Financial to provide affordable and scalable solutions for the electrification of fleets across the country,” said El-Azzi. “Gage Zero is at the center of the transportation electrification revolution. We’re building the massive infrastructure that is needed to economically electrify commercial transportation, increase grid resilience, and lay the foundation for a decarbonized future. Not just because it’s time, but because it’s necessary – for our children, our environment, our communities and our future.”
Commercial fleets represent less than 4% of the vehicles on the road but account for nearly 30% of the greenhouse gas emissions from the transport sector. Gage Zero invests the capital required to develop, construct, and operate the infrastructure necessary to transition fleets to zero-emissions vehicles. The company offers scalable solutions for regional trucking, port, and logistics operators, as well as national fleets that can include site development, EV charging hardware, optimized energy management, and vehicle leasing. By investing capital and managing the complex components needed for large-scale EV deployments, Gage Zero provides a turnkey solution for customers ready to begin their electrification journey to support zero-emission strategies today and into the future.
“ARC has a 30-year track record of supporting entrepreneurs in scaling high-growth businesses and our investment in Gage Zero reflects our confidence in the leadership team to execute on the large and exciting opportunity that we see in decarbonizing and electrifying transport,” said Brian Boulanger, CEO of ARC. “There is a high degree of complexity to electrification and several other challenges with EV adoption, but with its depth of experience, Gage Zero is ideally suited to provide fleet operators an end-to-end solution in their transition journey.”
Media Contact for Gage Zero
Tel: +1 512-766-5016
About Gage Zero LLC
Gage Zero is a fleet electrification solutions company based in Austin, Texas focused on reducing fleet operational costs along with harmful emissions from transportation. We deliver end-to-end solutions that benefit fleet operators, enrich communities, and support local economies for the purpose of creating a healthy, decarbonized future. We believe industries working together can empower everyone to participate in a cleaner future and we delight in bringing innovations to reality. Learn more at gagezero.com.
About ARC Financial Corp.
Founded in 1989, ARC Financial Corp. is committed to building high-performing businesses that address the world’s energy and sustainability needs. To date, ARC has raised $6 billion across nine energy-focused funds since the launch of its private equity business in 1997, having invested capital in more than 180 companies across the energy landscape. ARC has a diverse team of investment professionals with deep domain and capital markets experience and expertise across the energy spectrum.
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SOURCE Gage Zero