Inglewood, Calif., July 06, 2022 (GLOBE NEWSWIRE) -- Zeem Solutions, the innovative zero-emission “fleet-as-a-service” provider, today announced a $50 million capital commitment from a fund managed by ArcLight Capital Partners, LLC (collectively, “ArcLight”), a leading infrastructure and energy investor. Funding under the commitment will enable Zeem Solutions to expand its innovative business model, which provides customers the opportunity to operate battery-electric trucks, vans, and shuttle buses for a flat monthly fee – inclusive of vehicle lease, charging, maintenance, and insurance – at a lower cost than owning and operating a gas or diesel fleet.
In conjunction with the ArcLight investment, Zeem Solutions has announced a strategic partnership with LAZ Parking Realty Investors (“LPRI”), part of LAZ Parking, the largest privately-owned parking operator in the United States. The partnership will enable Zeem Solutions to accelerate growth of their electric vehicle offering by co-developing new charging and service depot locations as part of an aggressive national growth strategy. A leader in commercial real estate development nationwide, LPRI will bring site selection, acquisition, and construction capabilities to match Zeem Solutions’ fleet electrification expertise.
“The investment by ArcLight and our partnership with LPRI allows us to rapidly build out commercial electric vehicle depots at locations across California and beyond,” said Paul Gioupis, co-founder and CEO of Zeem Solutions. “Our growing portfolio of electric vans, trucks, and buses, when bundled with our specialized charging infrastructure and services, will transform the way fleet operators do business using EVs.”
By operating zero-emission EVs, fleets benefit from a quiet and clean ride for drivers and passengers as well as improved air quality for the communities they serve, including historically disadvantaged communities near transportation centers and freight corridors where Zeem Solutions’ EV depots will be located.
With a national network of more than 3,500 managed locations in 39 states and 444 cities, LAZ Parking is the fastest growing contract parking operator in the United States and a strategic complement to Zeem Solutions’ fleet-as-a-service depot model. Through the partnership, LPRI will become an equity partner in Zeem Solutions.
“Our partnership with Zeem Solutions aligns with our continued focus on cutting edge technology and supports our broader investment to build an expansive network of EV charging solutions,” said Alan Lazowski, Chairman and CEO of LAZ Parking. “As an expert in commercial infrastructure, we provide a critical component to help scale Zeem Solutions’ model nationwide.”
The announcement coincides with Zeem Solutions’ launch of its first LAX-based depot, with nearly 100 currently available electric vehicles, 77 fast charging ports and 53 Level 2 chargers. At its full planned capacity, the LAX depot will be the largest private commercial EV charging facility in the United States.
“The investment in Zeem Solutions furthers ArcLight’s strategy of making tactical, scalable investments in the energy transition space, in partnership with leading operators that can leverage our execution capabilities and existing investments in advanced mobility, electric power and real estate,” said Jake Erhard, Partner and Head of ESG at ArcLight. “On top of Zeem Solutions’ differentiated competitive positioning in the market, the tangible environmental and social impacts of the company’s strategy really stood out to us. We are also thrilled to capitalize in this transaction on our relationship with LAZ Parking Realty Investors, a proven industry leader that is poised to be a key enabler of the decarbonization of transportation.”
“Zeem Solutions is thrilled to establish these relationships with LPRI and ArcLight and to leverage their proven track records in infrastructure funding and development,” said Bruce Shalett, Chairman of Zeem Solutions. “Zeem Solutions has a bold goal to scale nationally and make the most energy- and cost-efficient vehicle technologies accessible to all fleet operators. We now have significant capital and an experienced national partner to further our ability to execute this vision.”
The Zeem Solutions EV offering allows fleet operators to overcome barriers to EV adoption, including high vehicle purchase price, limited vehicle inventory, long infrastructure permitting processes and costly installation, complicated hardware and software integration, and specialized vehicle maintenance. All these complexities of EV operations are handled by Zeem Solutions so that fleet customers can focus on their core business.
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About Zeem Solutions
Zeem Solutions builds and operates zero-emission fleet depots that transform the way medium- and heavy-duty fleets operate. Basic fleet-as-a-service amenities include vehicle leasing, vehicle charging, secured parking, vehicle maintenance and cleaning, and lounge space for drivers. In addition, depots are used for opportunity charging for high-mileage fleets as needed. Zeem is deploying depots in strategic locations to accelerate fleet electrification and zero emission mobility, serve as centers of technological innovation, and support the growing clean energy economy. For more information, please visit www.zeemsolutions.com.
About ArcLight Capital Partners
ArcLight is one of the leading investors in energy and related infrastructure. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $27 billion in 119 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, including over $4 billion invested in renewable transactions. The firm believes that its two decades of power and renewables experience, as well as its deep track record across the energy value chain, provide differentiated insights that will help ArcLight, and its partners contribute to a net zero future. More information about ArcLight can be found at https://www.arclight.com/.
About LAZ Parking
LAZ Parking is the largest privately-owned parking operator in the United States and a pioneer in digital parking technology. Founded in Hartford, CT in 1981, with four decades of experience providing best-in-class parking management and transportation services, LAZ operates over 1.2 million parking spaces across the country in over 3,500 locations in 39 states and 444 cities. Over the past decade, LAZ has led the industry with business intelligence, remote monitoring, and eCommerce solutions, and more recently, launched its Proximity On-Demand Services – "LAZ PODS". Leveraging a national parking network and utilizing connected tech-enabled solutions, LAZ PODS includes EV charging, micro warehousing, and last-mile logistics, and cloud kitchens. LAZ works across various industries, including hospitality, commercial, healthcare, airports, transportation, universities, government, retail, events, residential, and shuttle services. LAZ is a people-first "Conscious Capitalism" company that believes in elevating humanity through business. For more information, visit www.lazparking.com.
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