A fund sponsored by CBRE Investment Management has led the closing of a $15 million Series A funding round and a new $400 million joint venture with Forum Mobility, a zero-emissions trucking solutions provider, to provide comprehensive, zero-emissions charging and vehicle solutions to drayage truck fleets and drivers.
Forum Mobility’s existing seed investors all participated in the Series A funding round, including Obvious Ventures, Edison International, Overture and Homecoming Capital. Among the new Series A investors were CBRE IM, Elemental Excelerator and Amazon’s Climate Pledge Fund.
The California Air Resources Board has proposed regulations that require all of California’s drayage fleet — consisting of approximately 30,000 trucks — to be zero emissions by 2035. The California Energy Commission estimates that to comply with these and other proposed regulations, the state will need 157,000 medium- and heavy-duty chargers by 2030.
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