OBE Power Secures North Sky Capital Investment to Expand EV Charging Network Across Canada and U.S.

EV infrastructure company OBE Power has closed an equity investment from North Sky Capital to accelerate deployment of its electric vehicle charging network across the United States and Canada over the next three to five years.

The investment adds equity capital to OBE Power's existing credit facility with Gresham House, giving the company additional funding to expand a network that it owns and operates directly. Financial terms of the equity investment were not disclosed.

Fully owned and operated model

Rather than selling charging equipment to property owners, OBE Power deploys, owns, operates and manages the charging infrastructure itself. That model allows property owners and institutional partners to offer EV charging without funding the full upfront infrastructure investment or taking responsibility for ongoing network operations.

OBE Power handles infrastructure deployment, network management, maintenance and driver support, as well as energy reimbursement and management of carbon credit income.

"With this strategic investment, OBE Power has secured the capital foundation required to support its ambitious expansion goals over the next three to five years," said Luis Paul, co-founder and managing director of OBE Power.

Capital structure for infrastructure scaling

The investment from North Sky provides another source of long-term capital alongside OBE Power's debt financing as the company expands a business that requires significant upfront spending on physical infrastructure before generating recurring revenue from charging operations.

That capital structure is particularly relevant to EV charging because scaling a network involves more than installing chargers. Operators must finance equipment, coordinate installation and electrical infrastructure, maintain hardware, manage software and payments, provide driver support and keep charging stations operational over their useful lives.

OBE Power's approach places those responsibilities with the charging operator rather than individual property owners.

North Sky Capital's infrastructure focus

North Sky Capital said it had evaluated the EV charging sector for several years before making the investment.

"We believe OBE Power presents a compelling and well-structured expansion opportunity in the market," North Sky Managing Director Adam Bernstein said.

Ying Lucy Fan, a principal on North Sky's infrastructure team, pointed to OBE Power's fully owned and operated model, management team and growth strategy as factors aligning the company with North Sky's infrastructure investment approach.

North Sky has been investing in impact-focused strategies since 2005. Now in its 26th year, the firm has deployed more than $1.7 billion across approximately 200 impact investments. Its strategies target environmental and social outcomes alongside market-rate investment returns.

Target property types and Canadian relevance

For OBE Power, the new equity capital comes as it seeks to build density across property types where vehicles typically remain parked long enough for destination charging. Multifamily properties, hotels, healthcare facilities and commercial sites can provide recurring charging demand while giving landlords and operators an amenity increasingly relevant to EV drivers.

The combination of North Sky's equity investment and OBE Power's existing Gresham House credit facility gives the company a broader financing base for that expansion.

OBE Power plans to use that capital to continue building a fully managed charging network in the U.S. and Canada while absorbing much of the financial and operational burden that property owners would otherwise face when installing and maintaining EV charging infrastructure themselves.

For the Canadian market, this represents additional private capital flowing into EV charging infrastructure at a time when federal and provincial programs continue to support network expansion. The fully managed model may appeal to Canadian property owners and institutions looking to offer charging without taking on operational complexity.

Looking for EV deals, insurance, or financing? Check out our partner deals and offers.

If you found this guide helpful, use our Tesla referral link for free Supercharging credits on a new Tesla purchase or lease in Canada.