HOUSTON, TX – Dec. 9, 2021 – Earlier this week, Merge Electric Fleet Solutions, a premier fleet electrification services and finance company, announced the close of a Series A funding round led by strategic investor Pickering Energy Partners (PEP). The investment demonstrates PEP’s continued leadership in energy transition investing. Merge will use the funding to accelerate its team expansion and broaden its electrification service offerings to additional fleet segments.
As the strategic investor backing Merge, PEP is combining its expertise in energy transition investment with the EV domain experience of Merge’s seasoned management team. Merge’s best-in-class founding team—led by EV-industry pioneer Glen Stancil—delivers electrification solutions for fleet operators across market segments that include energy, healthcare, food and beverage, and home services.
“As the EV market accelerates across the country, now is the time to invest in the future of fleet electrification,” said Dan Pickering, Chief Investment Officer of PEP. “Our team at PEP recognized this opportunity and capitalized on Merge’s unique service to place our clients at the forefront of innovation and the energy transition.”
With PEP’s proven industry knowledge and strategic financial support, Merge is positioned to lead the EV transition through full-service solutions that make fleet electrification simple and affordable. The Merge team brings decades of EV experience from designing, delivering and operating integrated charging solutions for residential and commercial applications on L2 and DC platforms at over 1,500 sites across 40 states. Merge supports fleets through the entire lifecycle of EV transition including planning, deployment, operations, and financial services to provide customers with a data-driven approach to confidently achieve their operational, economic and emissions goals.
“Converging market, social and regulatory tailwinds are pushing businesses of all kinds to embrace fleet electrification,” said Glen Stancil, CEO of Merge. “Merge’s comprehensive fleet electrification solutions deliver the economic, environmental and experiential benefits of electric vehicles to fleet operators of all types and sizes.”
PEP’s backing of Merge marks a major shift in the energy investing landscape. Just prior to its investment in the EV space, PEP formally launched its Insights, Advisory and Consulting practices, alongside its merger with Global Natural Resources asset manager, SailingStone Capital Partners. In the last year alone, the PEP team has grown threefold, adding to the firm’s expertise spanning decades across the energy industry. In addition, PEP’s investment teams have collectively deployed $15 billion across all energy and natural resources subsectors since inception (including predecessor companies).
Global law firm Latham & Watkins advised PEP in the financing round.