WASHINGTON--(BUSINESS WIRE)--Inspiration, the first one-stop EV solutions company to both finance electric vehicles and build, own and operate the charging infrastructure enabling the EV transition, announced its launch today. Featuring a founding team that brings together expertise in automotive finance, fleet management, clean energy infrastructure and real estate, Inspiration provides light and medium-duty fleets with end-to-end solutions that maximize the economic benefits of an electric vehicle fleet. To offer this comprehensive solution to fleet operators and other industry participants, Inspiration secured an initial $200 million in capital commitment from ArcLight Energy Partners Fund VII.
“As the global shift toward electric vehicles gains momentum, Inspiration helps fleet operators configure and optimize all the elements of EV deployment, from concept to operations. We founded Inspiration to streamline the complex process of deploying a commercial EV fleet at scale by offering a one-stop, integrated solution for any and all vehicle, energy, project development and finance challenges that may arise in the process,” said Josh Green, Founder & CEO of Inspiration. “Our mission is to accelerate the EV transition, delivering tangible economic value to our partners while enabling the emission reduction benefits of EVs. We’re thrilled to be partnering with ArcLight, an industry leader with deep expertise in energy markets, infrastructure and advanced mobility and logistics, to support us in executing our vision.”
“The partnership with Inspiration furthers ArcLight’s strategy of investing in the clean transition space via differentiated business models that leverage our industry know-how and experience,” said Marco Gatti, Managing Director at ArcLight. “Inspiration represents an exceptional opportunity to support a seasoned management team of industry experts that is poised to drive profitable growth through its unique value proposition to EV fleet owners, which will in turn help accelerate decarbonization of the transportation sector. We look forward to supporting the team as they continue developing Inspiration’s customized solutions for the EV industry.”
Inspiration is already making a difference in New York City, where the company has partnered with EV ridehail innovator Revel. Revel turned to Inspiration to procure its fleet of distinctive blue Teslas for on-demand transportation in Manhattan and leases its growing fleet of vehicles from Inspiration.
“The transition to electric can’t wait another decade - it has to happen now,” said Paul Suhey, Revel Co-Founder and Head of Rideshare & EV Infrastructure. “Through our partnership with Inspiration, we’ve made it easier than ever for New Yorkers to choose emissions-free mobility options by introducing the city’s first all-electric rideshare fleet.”
With the imperative to cut carbon emissions from transport more urgent than ever and a rapidly-expanding list of exciting EV models available, the EV revolution has arrived. Fleet operators who take the lead in deploying EV fleets now will reap the financial, operational and brand benefits for decades to come. Electrifying fleets not only reduces emissions, but also reduces costs and fleet downtime. Electricity is a less expensive, less volatile fuel source than gasoline and diesel, and EVs require less maintenance, with fewer days lost to servicing than conventional vehicles. Operators can also realize savings thanks to federal tax credits, and state and utility incentives. Inspiration brings together all of these benefits for its clients in a customized, affordable and stress-free way.
Inspiration is the first purpose-built EV solutions company. Our mission is to accelerate the electrification of transportation by partnering with fleet businesses to finance vehicles and deliver turnkey charging solutions to enable the rapid deployment of reliable, low-cost, zero-emissions EV fleets. Acting as a partner and system integrator, Inspiration designs and implements a custom solution that ensures every fleet electrification is seamless. Whether a company is a traditional fleet operator looking to transition to EVs or an electric mobility business launched as EV-only from the start, Inspiration can help. Companies interested in electrifying or expanding their fleets can learn more at inspirationmobility.com.
About ArcLight Capital Partners
ArcLight is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 113 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy utilizing its in-house technical, operational and commercial specialists, as well as the firm’s approximately 1,500-person asset management affiliate. ArcLight has a deep track record of investing in businesses and assets that contribute to a decarbonized future, closing its first renewable power deal in 2003 with over $4 billion invested in renewable power transactions since then. We believe that ArcLight’s two decades of power and renewables experience, as well as our deep track record across the energy value chain, provide differentiated insights that will help us and our partners contribute to a net zero future. More information about ArcLight and a complete list of ArcLight’s portfolio companies can be found at https://www.arclight.com/.
Revel is a Brooklyn-born company that’s leading cities to a zero-carbon future by integrating technology, operations, and infrastructure across energy and mobility sectors. Through the Revel app, users can rent electric mopeds, sign up for monthly eBike subscriptions, hail an electric car ride or find fast charging stations compatible with any brand of EV. Founded in 2018, Revel now operates in four New York City boroughs, Washington, D.C., Miami and San Francisco. To learn more, visit gorevel.com and follow @_gorevel on Twitter.