WattEV
Solar-powered truck charging and Charging-as-a-Service for electric fleets
SectorsElectric Semi Trucks
Total Raised
~$130M
Heavily grant-funded
Federal Grants
$109.2M
FHWA + corridor grants
Flagship Depot
Bakersfield, CA
World's largest solar truck depot
Charging Capability
Megawatt-class
MCS-ready infrastructure
Funding History
Total raised: ~$130M
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Early Funding | 2020–2022 | ~$20M | — | Apollo Global ManagementVitol |
| FHWA Federal Grant | 2023 | $75.6M | — | Federal Highway Administration |
| Corridor Grant | 2024 | $33.6M | — | US DOT / FHWA |
Product Specifications
| Feature | WattEV Charging Depot | Electric Highway |
|---|---|---|
| Model | Charging-as-a-Service (CaaS) | Corridor-based public truck charging |
| Flagship Site | Bakersfield, CA (world's largest solar truck depot) | I-5 corridor (California to Oregon) |
| Power Source | On-site solar generation + grid | Grid + renewable energy |
| Charging Speed | Up to megawatt-class charging (MCS) | High-power DC fast charging |
| Target Vehicle | Class 8 electric trucks | Class 8 electric trucks |
| Business Model | Per-kWh charging fee, no upfront cost to fleets | Pay-per-use corridor charging |
Partnerships & Investors
Apollo Global ManagementInvestor
Early-stage private equity investor
VitolInvestor
Energy trading firm providing strategic investment
Federal Highway AdministrationGovernment Grant
$75.6M grant for Electric Highway infrastructure
US DOTGovernment Grant
$33.6M corridor grant for I-5 CA-OR charging stations
Key Milestones
2018
Company Founded
Salim Youssefzadeh founds WattEV to build solar-powered truck charging infrastructure
2022
Bakersfield Depot Breaks Ground
Construction begins on the world's largest solar-powered truck charging depot
2023
$75.6M FHWA Grant
Federal Highway Administration awards major grant for Electric Highway buildout
2023
Bakersfield Depot Opens
World's largest solar-powered truck charging depot goes live in Bakersfield, CA
2024
$33.6M Corridor Grant
Federal grant to build I-5 Electric Highway from California to Oregon
2024
Megawatt Charging Capability
First sites equipped with megawatt-class charging for next-gen electric trucks
2025
I-5 Electric Highway Expansion
Multiple charging sites along I-5 corridor from CA to OR under construction