NORWALK, Conn., July 31, 2019 /PRNewswire/ -- Petros Partners announced today its investment in Oasis Charger Corporation, a Connecticut-based electric vehicle (EV) charger manufacturer with its headquarters in South Norwalk and its main research and development facility in Hartford. The investment will be used to scale the company's Juice Bar® brand that leases EV charging solutions to commercial property owners to modernize their parking facilities and meet the growing demand for EV charging.
"This transaction is a perfect example of Petros' broad focus on providing capital to companies in a manner which combines attractive returns on capital with measurable ESG impact goals," said Jim Stanislaus, Co-Founder and CFO of Petros Partners. "We are seeing continued strong investment opportunities across Petros' small business and C-PACE investment platforms nationwide for companies whose focus includes strong financial performance plus responsible environmental, social and governance operating initiatives."
The funding comes from the Petros Connecticut Fund I, an $18 million investment fund focused on supporting the growth of Connecticut businesses. The Petros Connecticut Fund operates under the state's Insurance Reinvestment Tax Credit Program and is in place to encourage and assist in the creation, development, and expansion of Connecticut businesses by providing them access to both capital and operational expertise.
"With the fast growth of the EV market, our leasing program provides commercial real estate owners a cost effective and worry-free option to provide what is, increasingly, a requirement in every parking lot," said Paul Vosper, President and CEO of Oasis Charger Co. "The funding we have received from Petros is a critical step in scaling our leasing program to meet these demands. Petros' thoughtful and flexible approach to this new market was vital in our ability to provide creative solutions to our customers."
Oasis Charger was founded in 2009 by leaders in the real estate and clean energy industries to develop sustainable parking and promote electricity mobility. Its electric vehicle chargers are made and assembled in the United States and are sold internationally under the Juice Bar® brand. Oasis Charger provides a full range of EV chargers and electrification solutions to commercial property owners and its products are now deployed across 72 cities in the United States and Canada.
"Petros is excited to partner with Oasis Charger Corporation to help further their goal of meeting the growing demand for electric car charging stations here in Connecticut and broadly throughout the U.S.," said Barry Schwimmer, Managing Director of Petros Connecticut Fund. "We have worked with Paul Vosper, Jeff Mayer and their team for several years. They are pioneers in EV charging and it's an honor to partner with them on this truly transformational opportunity."
About Petros Partners
Petros designs, builds, and operates financial services businesses. Based in Austin, Texas, the Petros team has decades of institutional private investment and structured finance experience, totaling over $2 billion in transactions. The firm maintains strong, direct relationships with the C-level at major insurance companies, asset managers and other institutions as its investor partners. Petros utilizes specific public-private incentives to credit enhance fixed-income investment products for these investors partners, which helps capitalize Petros' investment platforms. Learn more at petrospartners.com.
Oasis Charger Corporation is a Connecticut based EV charger manufacturer with its headquarters in South Norwalk and its main research and development facility in Hartford. In business since 2009, Its electric vehicle chargers are made and assembled in the United States and are sold internationally under the Juice Bar® brand. Oasis Charger provides a full range of EV chargers and electrification solutions to commercial property owners, including Level 2, 24 kW and Level 3 DC Fast Chargers, smart networks, building and parking management system integration, as well as solar canopies and charger hubs.
SOURCE Petros Partners