BlackRock Renewable Power led a $126 million Series B equity round for Revel announced on February 23, 2022. Toyota Ventures, Goodyear Ventures, Shell Ventures, Broadscale Group, Obsidian Investment Partners, the St Baker Energy Innovation Fund and an account managed by Knighthead Capital Management also participated. Revel said it would use the capital to expand public, 24/7 DC-fast-charging “Superhubs” in New York City and other major U.S. cities. This was a 2022 financing—not a current fundraising announcement—and Revel’s strategy has since shifted through a combination with Voltera.
What the $126 million transaction actually was
The round was an equity Series B, meaning investors bought an ownership stake in Revel. BlackRock Renewable Power was the lead investor; the announcement did not describe a BlackRock-only investment or an outright acquisition. BlackRock and Toyota Ventures received board representation.
Contemporaneous reporting said the round followed a $34 million Series A and brought Revel’s total funding to approximately $165 million at that time. That figure was a historical funding estimate, not a current valuation or capitalization measure. The company’s announcement is available in its Series B release.
Do not combine this equity round with Revel’s later $50 million unsecured debt financing, announced November 15, 2022, by BlackRock Alternatives. Debt must be repaid under its terms; equity financing represents ownership and carries different risks and potential returns. The separate debt announcement is documented here.
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- Charge with Confidence: ChargePoint builds reliable, flexible EV charging stations for home, business, and fleets. Get 24/7 support and access to hundreds of thousands of North American charging locations.
- Charge Smart: With the user-friendly ChargePoint Mobile App, you can control your electric car charger, manage reminders, connect to smart home devices, find stations, get data and charging info, and access the latest features. Note: WiFi is needed for certain functionalities and troubleshooting steps if connectivity issues arise.
- Vast Network: Wherever you go, ChargePoint’s network includes 274k+ stations across North America and Europe and 565k+ roaming partner stations.
- Safe & Durable: Rely on this UL-certified EV charger for safe home charging. It can be installed indoors or outdoors by an electrician and includes a cold-resistant cable.
- Fast & Powerful: This EV charger charges 9× faster than a 120V outlet, delivering up to 45 mi/hr., dependent upon your vehicle. It features a J1772 connector for all non-Tesla EVs and requires a 20A or 80A circuit. For Tesla EVs, this will require an adapter.
Why Revel attracted infrastructure investors
Revel was a broader urban-mobility company, not just a charging-station operator. Its businesses included shared electric mopeds, an all-electric New York ride-hailing service and public fast charging. It had also experimented with an e-bike subscription service that it was winding down.
The investment thesis was vertical integration. Revel’s own electric ride-hailing fleet could provide predictable early demand for chargers while public EV ownership and commercial fleets expanded. Third-party ride-hail drivers and light-duty delivery operators could add utilization. That combination potentially improves the economics of expensive urban sites, although it also leaves the network exposed to the health and scale of Revel’s fleet business.
What Revel’s “Superhubs” were designed to do
Revel described Superhubs as public, universal and available 24 hours a day, seven days a week. “Universal” meant intended service for EVs from multiple manufacturers and connector standards—not that every vehicle could use every stall at once.
Rank #2
- [Up to 9x Faster Charging Speed]: Provides up to 46 miles/hour charging speed via hardwired connection (48 amp - up to 9x faster than a standard wall outlet) or up to 38 miles/hour via the NEMA 14-50 plug (40 amp). Professional installation recommended for optimal safety and performance. [Install The Power Outlet Cord]: No smaller than 8AWG if charge 40-48A, we suggest 6AWG cord.(1.The input side is belongs to the electrician electric automobile regulation scope, need to use three 6AWG cable wires for 48A; 2.The charging cable belongs to the automotive connector certification standard, so the 8AWG cable can meet the 48A.)
- [DESIGNED WITH J1772 Connector for All North America j1772 Connector EVs/PHEVs. Not fits for Tesla/Nacs Connector Cars(j1772 to Tesla adapter needed)]: Compatible with Tesla cars (Adapter needed, not included), Ford, GM, Audi, Kia, Honda, Kia, Hyundai, Gmc, Chevrolet Bolt, VW ID 4, Nissan Leaf, Ford Mustang Mach-E, IONIQ 5 2024 and before, BMW i3, i4, iX, Jeep Wrangler 4xe, etc. [Not fits for Nac connector cars-Kia EV6 2025/EV9,Ariya 2025&2025 loniq 5(J1772 to Tesla adapter needed)]
- [Safety & Faster Charging with ETL, FCC, Energy Star Certified]: Meets the Safety Criteria Defined by: SAE J1772, UL2231-1/-2, UL 991, UL 2231, UL 2251, UL1998 and UL 2594. (ETL and FCC certified EV car charger with 3-year Warranty)
- [Plug-play Mode(The Default Setting), Smart Touch Screen, No APP Needed]: Clearly show the charging amperage, charging speed, input voltage, delay time, etc. For the touch buttons: 1. Pull out the charging gun before press the buttons, otherwise no respond; 2. Long press "Ⓐ" or "Time" button to enter the setting interface, then you can adjust the amperage from 16A to 48A freely or Set the charging start time; 3. You can do "factory reset" if doesn't charging.
- [Smart WIFI APP, You can Set the Charging Period]: By APP, you can wirelessly check the charging cost, history, fully-charged notification, track the charging status, during off-peak period, etc. [Wi-Fi Reset/Factory Reset Function, Add New Device Quickly]: If you can't find your device or you have replaced a new phone, just pull out the charging latches, simultaneously long press the Ⓐ button and time adjustment button on the product screen until it shows "Factory Reset", then wait 3-5 seconds and re-start your device.
- Urban access: Sites targeted dense neighborhoods where many drivers cannot install home charging.
- Multiple customers: The intended users included private EV owners, Revel’s fleet, outside ride-hail operators and delivery vehicles.
- High-power charging: The business depended on costly grid connections, equipment, construction and real estate.
Revel’s first major Brooklyn project was announced in 2021 as a 30-charger universal fast-charging depot. Later coverage described the operating Bed-Stuy site as having 25 charge points. Those numbers refer to different stages or descriptions of the project, rather than necessarily a contradiction; the original announcement is available here.
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How much expansion was planned?
Revel’s release promised expansion in New York City and potentially other urban centers without committing to a final site count. TechCrunch later corrected its description to say Revel expected approximately 10 to 15 fast chargers at each new site. That figure was chargers per location, not 10 to 15 new locations. See the TechCrunch report and correction.
Who invested and what BlackRock said
| Investor | Role in the 2022 announcement |
|---|---|
| BlackRock Renewable Power | Lead investor |
| Toyota Ventures | Participating investor; board representation |
| Goodyear Ventures | Participating investor |
| Shell Ventures | Participating investor |
| Broadscale Group | Participating investor |
| Obsidian Investment Partners | Participating investor |
| St Baker Energy Innovation Fund | Participating investor |
| Account managed by Knighthead Capital Management | Participating investor |
BlackRock presented the investment as exposure to growing EV-charging infrastructure and the energy transition. It said the deal complemented its existing charging portfolio and supported emissions reduction in major cities. That is an investment rationale, not evidence of a measured emissions outcome or profitability.
Rank #3
- WORKS WITH EVERY NON-TESLA EV: Standard J1772 connector plugs straight into Ford, Chevrolet, Hyundai, Kia, Nissan, BMW, Volkswagen, Audi, Rivian, Lucid and every other EV or plug-in hybrid sold with a J1772 port - no adapter needed. Tesla drivers can charge too, using the J1772 adapter that comes with the car.
- PLUG IN, NO HARDWIRING: Level 2 charger delivers up to 40A to fully charge most EVs overnight. Plugs into a 240V, 4-prong NEMA 14-50 outlet (the RV/range type - NOT a dryer outlet) on a dedicated 50A circuit. The extra-long 25 ft cable easily reaches across a garage or driveway. Before ordering, check your car's port type and that you have the right outlet.
- CONTROL & SAVE FROM YOUR PHONE: A stronger built-in antenna keeps the charger online even in a garage or basement. Use the free app to start/stop charging, set speed (6-40A), get reminders, and track energy use and cost. Schedule off-peak overnight charging to cut your electric bill. Requires 2.4 GHz WiFi.
- SAFETY-CERTIFIED & WEATHERPROOF: Independently tested and certified (UL, ETL, FCC, Energy Star). A fully sealed IP66 / NEMA 4 housing stands up to rain, snow, heat and dust indoors or out, and internal steel shielding protects the electronics for years of reliable use.
- GLOW-IN-THE-DARK HOLSTER: The included high-visibility holster glows in the dark so you can find and dock the plug easily at night. Holds the connector securely when not in use.
Names matter: the 2022 lead was BlackRock Renewable Power. The later debt provider was BlackRock Alternatives. In the 2026 corporate transaction, Global Infrastructure Partners (GIP)—now part of BlackRock—is identified as retaining a minority stake. These references should not be treated as interchangeable entities or as proof that BlackRock bought Revel outright in 2022.
The financing and corporate timeline
- February 3, 2021: Revel announced its first Brooklyn Superhub plan, described as a 30-charger project.
- February 23, 2022: BlackRock Renewable Power led the $126 million Series B equity round.
- November 15, 2022: Revel announced $50 million of unsecured debt financing from BlackRock Alternatives.
- June 30, 2026: Revel announced a combination with Voltera, moving the strategy toward larger fleet and autonomous-mobility infrastructure.
Did the network become meaningful?
As of August 2026, Revel’s consumer-facing website listed 100 live charging stalls and more than 260 additional stalls coming soon, with publicly listed locations in New York City and the San Francisco Bay Area. These are company-reported operational and pipeline figures, not an audited total. A “coming soon” stall should not be treated as available today. Revel’s locations page shows site-specific status and connectors.
The June 2026 Voltera announcement described a broader combined platform expected to include more than 1,000 stalls operational or under development across 11 major U.S. metro markets. EQT is expected to be the majority owner, while GIP, now part of BlackRock, retains a minority stake. The combined company is intended to operate under the Voltera name, with Revel CEO Frank Reig becoming incoming CEO. The announcement is on Business Wire.
Rank #4
- WORKS WITH EVERY NON-TESLA EV: Standard J1772 connector plugs straight into Ford, Chevrolet, Hyundai, Kia, Nissan, BMW, Volkswagen, Audi, Rivian, Lucid and every other EV or plug-in hybrid sold with a J1772 port - no adapter needed. Tesla drivers can charge too, using the J1772 adapter that comes with the car. The extra-long 25 ft cable easily reaches across a garage or driveway.
- HARDWIRED - PROFESSIONAL INSTALL: This Level 2 charger is hardwired (not plug-in), so a licensed electrician installs it per National Electrical Code. It delivers up to 48A on a dedicated 60A, 240V circuit - enough to charge most EVs fully overnight. Want more speed? You can set DIP switches 4 and 5 to unlock 50A on a dedicated 70A circuit. Before ordering, check your car's port type and that your electrical panel can support the circuit.
- CONTROL FROM YOUR PHONE: A stronger built-in antenna keeps the charger online even in a garage or basement. Use the free app to start and stop charging, set the charging speed (6-48A), get reminders, and track how much energy and money each charge uses. Requires a 2.4 GHz home WiFi network.
- SAFETY-CERTIFIED & WEATHERPROOF: Independently tested and certified (UL, ETL, FCC, Energy Star). A fully sealed IP66 / NEMA 4 housing stands up to rain, snow, heat and dust indoors or out, and internal steel shielding protects the electronics for years of reliable use.
- GLOW-IN-THE-DARK HOLSTER: The included high-visibility holster glows in the dark so you can find and dock the plug easily at night. Holds the connector securely when not in use.
The larger figure belongs to the combined Voltera–Revel platform; it cannot be attributed solely to the 2022 $126 million raise. Nor do the available announcements establish that Revel became profitable or built the largest U.S. charging network.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the business model had to prove
Urban DC-fast charging is capital-intensive. A site needs enough electricity throughput to cover grid interconnection, transformers, construction, rent, maintenance and demand charges. A high nameplate power rating does not guarantee strong returns.
- Utilization: More sessions and energy sold per stall spread fixed costs over more revenue.
- Fleet anchor: Revel’s own vehicles could smooth demand, but dependence on one fleet creates concentration risk.
- Site access: Dense-city real estate and electrical capacity are valuable but expensive and slow to secure.
- Connector mix: Locations may offer CCS1, NACS and, in some cases, CHAdeMO; availability is site-specific.
- Capital needs: The Series B and subsequent debt financing illustrate how much funding may be required before a network reaches mature utilization.
What EV drivers should check before using Revel
Revel’s charging page, viewed in August 2026, showed New York starting prices of $0.45 per kWh plus tax with the app and $0.52 per kWh plus tax without it. These are New York-only starting prices; rates can vary by time and location. Check the live price and stall status in the Revel charging page and app.
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Best Value
- Charge with Confidence: ChargePoint builds reliable, flexible EV charging stations for home, business, and fleets. Get 24/7 support and access to hundreds of thousands of North American charging locations
- Charge Smart: With the user-friendly ChargePoint Mobile App, you can control your electric car charger, manage reminders, connect to smart home devices, find stations, get data and charging info, and access the latest features
- Vast Network: Wherever you go, ChargePoint’s network includes 274k+ stations across North America and Europe and 565k+ roaming partner stations
- Safe & Durable: Rely on this UL-certified EV charger for safe home charging. It can be installed indoors or outdoors by an electrician and includes a cold-resistant cable
- Fast & Powerful: This EV charger charges 9× faster than a 120V outlet, delivering up to 45 mi/hr., dependent upon your vehicle. It features a J1772 connector for all non-Tesla EVs and plugs into a 240V outlet with a 14-50 receptacle, requiring a 40A or 50A circuit. For Tesla EVs, this will require an adapter
- Revel advertises charging of up to 320 kW at some sites. Actual power depends on the vehicle, charger, battery state and congestion.
- Confirm that the site has your vehicle’s connector. “Universal” does not mean every connector is installed at every stall.
- Parking or garage charges can apply. For example, Revel’s South Williamsburg page describes a 90-minute window before garage fees begin.
- Planned sites and “coming soon” stalls are not operational availability.
- Eligible Uber Pro drivers may receive savings of up to 25%, subject to eligibility, location, time-of-use restrictions and other terms on the Revel–Uber page. “Up to” is a promotional maximum, not a guaranteed discount.
What the deal means for investors and policy readers
The raise is best understood as an early infrastructure bet whose outcome is measured by build-out and strategic repositioning, not by the headline amount alone. Revel attracted institutional capital because it combined a potential fleet customer with public charging in difficult urban locations. The trade-off was substantial execution risk: utilization, electricity tariffs, permitting, transformer capacity and real-estate costs all determine whether a hub can earn an acceptable return.
The 2026 Voltera combination indicates that the business is being organized around fleet and autonomous-mobility infrastructure at larger scale. It does not prove that the original round directly produced every later stall, nor that the charging operation has achieved profitability.
The Bottom Line
Bottom line: BlackRock Renewable Power led Revel’s $126 million Series B on February 23, 2022, to fund urban public fast-charging Superhubs alongside Revel’s fleet and mobility businesses. Revel later added $50 million of debt, reported 100 live stalls and more than 260 planned stalls by August 2026, and combined with Voltera in a platform expected to exceed 1,000 operational or developing stalls across 11 metros. The financing was an important infrastructure commitment, but it was not a current raise, a BlackRock buyout or proof of profitability.
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