BlackRock Renewable Power led Revel’s $126 million Series B equity round on February 23, 2022. The New York mobility company said it would use the capital to build more public, 24/7 DC-fast-charging Superhubs in New York City and other major U.S. cities. The round was not a current 2026 fundraising event, and it was separate from Revel’s later $50 million unsecured debt financing.
By August 2026, Revel’s charging business listed 100 live stalls and more than 260 additional stalls coming soon. Revel also announced that it had joined Voltera, creating a broader fleet and autonomous-mobility charging platform expected to include more than 1,000 operational or in-development stalls across 11 U.S. metro markets.
What Revel raised in 2022
Revel announced the $126 million Series B on February 23, 2022. BlackRock Renewable Power was the lead investor. 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. BlackRock and Toyota Ventures received board representation, according to Revel’s announcement.
This was an equity Series B, not a $126 million loan and not a BlackRock-only investment. Revel later announced a separate $50 million unsecured debt financing from BlackRock Alternatives on November 15, 2022.
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Contemporary reporting from TechCrunch said the Series B followed a $34 million Series A and brought Revel’s reported total funding to approximately $165 million at the time. That figure should not be treated as Revel’s current capitalization.
Why Revel attracted infrastructure investors
Revel was more than a charging-network startup. Its businesses included shared electric mopeds, an all-electric New York ride-hailing service and public EV fast charging. It had also experimented with an e-bike subscription service that it was winding down.
The investment thesis was vertical integration. Revel could operate its own electric rideshare fleet as an initial source of charging demand while also selling energy to private EV owners, outside rideshare drivers and light-duty delivery fleets. In theory, that combination could give expensive urban charging sites better utilization than a station relying only on occasional consumer traffic.
BlackRock’s stated rationale was to gain exposure to expanding EV-charging infrastructure and the energy transition. BlackRock said the investment complemented its existing charging portfolio and supported electrification in major urban centers. That was an investment objective—not evidence that the financing had already produced a measured emissions reduction or a profitable network.
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- [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.
What Revel’s Superhubs were designed to do
Revel’s Superhubs were intended to provide:
- Public access 24 hours a day, seven days a week.
- DC-fast charging for vehicles from multiple manufacturers.
- Charging in dense neighborhoods where many drivers cannot install home equipment.
- Capacity for Revel’s fleet, third-party rideshare operators, consumers and delivery vehicles.
Revel announced its first major Brooklyn Superhub in 2021 as a universal fast-charging depot with 30 planned chargers. Later coverage described the operating Bed-Stuy site as having 25 charge points. The different figures reflect different stages or descriptions of the project, rather than necessarily a contradiction. The original announcement is available here.
“Universal” also needs context. It means a site is intended to serve multiple EV brands and connector standards; it does not mean every vehicle can use every stall simultaneously. Connector availability is location-specific.
How much expansion was planned?
Revel’s Series B announcement described expansion in New York City and potentially other major urban centers without committing to a final site count. TechCrunch reported that Revel expected to install approximately 10 to 15 fast chargers per new site. That number referred to chargers at each location—not 10 to 15 new charging sites.
The distinction matters because charging-stall counts, sites, announced projects and operational equipment are different measures. A development pipeline cannot be treated as live network capacity.
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- 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.
Timeline of the Revel charging bet
| Date | Development |
|---|---|
| February 2021 | Revel announced plans for its first Brooklyn universal fast-charging Superhub, initially describing 30 planned chargers. |
| February 23, 2022 | Revel announced its $126 million Series B, led by BlackRock Renewable Power. |
| November 15, 2022 | Revel announced $50 million in unsecured debt financing from BlackRock Alternatives. |
| June 30, 2026 | Revel announced its combination with Voltera. |
Did the network scale?
As of August 2026, Revel’s consumer-facing website listed 100 live charging stalls and more than 260 additional stalls coming soon. Its publicly listed locations included New York City and the San Francisco Bay Area. These are company-reported figures, not an independently audited total.
The June 2026 Voltera–Revel transaction announcement described a combined platform expected to include more than 1,000 charging stalls operational or under development across 11 major U.S. metro markets. That figure belongs to the broader combined platform; it should not be attributed solely to Revel’s 2022 financing.
Under the announced structure, EQT would be the majority owner, while Global Infrastructure Partners—now part of BlackRock—would retain a minority stake. The combined company is intended to operate under the Voltera name, with Revel CEO Frank Reig becoming incoming CEO. The strategic emphasis has therefore shifted toward infrastructure for electric fleets, ride-hail operators and autonomous vehicles, rather than presenting Revel primarily as a consumer mobility company.
The charging economics behind the strategy
Urban DC-fast charging is capital-intensive. A station’s financial performance depends on more than the number of plugs or its maximum power rating. Important variables include:
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- 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.
- Utilization: Chargers must serve enough vehicles to cover construction, maintenance, rent, grid connections and demand charges.
- Fleet demand: Revel’s own vehicles could provide predictable early usage, but reliance on one fleet creates concentration risk if that fleet shrinks or changes direction.
- Site costs: Dense-city real estate, permitting, transformer capacity and utility upgrades can be expensive.
- Electricity tariffs: Demand charges and time-based rates can materially affect margins.
- Connector mix: A site may offer CCS1, NACS or, in some cases, CHAdeMO. Drivers must check the individual location.
The $126 million equity round followed by the later debt financing illustrates the amount of capital required before a large charging footprint can mature. The available announcements establish funding, expansion plans, listed infrastructure and a later corporate combination; they do not establish profitability.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What EV drivers should know in 2026
Revel’s charging page, as viewed in August 2026, listed starting prices of $0.45 per kWh plus tax with the app and $0.52 per kWh plus tax without the app. Those rates were explicitly for New York and should not be treated as a nationwide tariff. Prices may vary by location and time. Drivers should check the Revel charging page and app for current pricing and availability.
Revel advertises charging speeds of up to 320 kW at some sites. That is the charger’s rated capability, not a guarantee that every vehicle will receive 320 kW. Actual power depends on the vehicle’s charging system, battery state, temperature, charge curve, charger configuration and site congestion.
Before arriving, drivers should confirm:
- The station is live rather than listed as “coming soon.”
- The connector matches the vehicle.
- The displayed price and any time-of-use terms.
- Whether app registration is required or changes the price.
- Parking, garage and idle-time rules.
For example, Revel’s South Williamsburg location page describes a 90-minute window before garage fees begin. Site-specific parking rules can add to the charging cost.
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- 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
Eligible Uber Pro drivers may receive savings of up to 25% through Revel’s Uber partnership. “Up to” is a promotional maximum, and eligibility, location, time-of-use restrictions and other terms apply.
Why the 2022 raise still matters
Revel’s financing story captures a central challenge in EV infrastructure: public fast charging needs substantial capital and reliable utilization at the same time. A captive or affiliated fleet can help fill chargers during the network’s early years, while consumer and commercial demand grows. But that benefit is tied to the health of the fleet business, making the model more complex than simply installing plugs and collecting charging fees.
The subsequent Voltera combination suggests that Revel’s long-term value is increasingly tied to operating high-power infrastructure for fleets and autonomous mobility. It is evidence of strategic evolution, not proof that the original investment created a profitable national charging network.
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