Climate Finance | November 10, 2021

Inspiration secures $200 million from ArcLight to help commercial fleets go electric

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 10 — Washington, D.C.-based Inspiration, launched this year, provides financing, leasing and charging infrastructure services for companies looking to electrify and decarbonize their commercial fleet vehicles.

Its first partner is Brooklyn-based Revel, which tapped Inspiration for its fleet of ride-share Teslas. Inspiration intends to expand across North America. 

“We will continually be raising capital to target segments that may be more difficult to electrify like rideshare drivers and lower- to middle-income consumers,” Inspiration’s Josh Green told ImpactAlpha.

Decarbonizing transportation

Boston-based ArcLight made the investment via its seventh ArcLight Energy Partners Fund. Electric bus fleet company Proterra went public earlier this year via a merger with a SPAC, or special purpose acquisition company, backed by ArcLight.