OBE Power Secures Equity Investment From North Sky Capital to Expand Charging Network
The new capital will complement an existing credit facility and target multifamily, hospitality, and healthcare properties.
US charging network operator OBE Power has secured a new equity investment from North Sky Capital to accelerate the expansion of its North American electric vehicle charging infrastructure.
What Happened
The investment from North Sky Capital complements OBE Power’s existing credit facility with Gresham House. The company intends to use the new capital to focus on deploying chargers at multifamily, hospitality, healthcare, commercial, and other destination-based properties. OBE Power’s business model involves deploying, owning, operating, and managing charging infrastructure for property owners and institutional partners, allowing hosts to offer EV charging without significant capital investments or operational complexity.
Why It Matters
This funding round provides OBE Power with the capital foundation required to support its expansion goals over the next three to five years, according to Luis Paul, cofounder and Managing Director of OBE Power. The partnership underscores continued investor interest in the EV charging sector, with Adam Bernstein, Managing Director of North Sky Capital, noting that the firm evaluated the sector for several years before concluding that OBE Power presents a compelling and well-structured expansion opportunity.
The Bottom Line
OBE Power has strengthened its balance sheet with equity from North Sky Capital to drive growth in destination-based EV charging across North America, specifically targeting property owners seeking to add infrastructure without heavy upfront costs.
