Wilson Sonsini Advises Forum Mobility on $15 Million Series A and $400 Million Joint Venture
- Client Highlights
- Clean Energy
- Climate and Clean Technologies
On January 17, 2023, Forum Mobility, a zero-emission trucking solutions provider, announced the close of a $15 million Series A funding round and a new $400 million joint venture, both led by a fund sponsored by CBRE Investment Management, to provide comprehensive, zero-emission charging and vehicle solutions to drayage truck fleets and drivers. Homecoming Capital also participated in the Series A funding round and provided $100 million to the joint venture. Wilson Sonsini Goodrich & Rosati advised Forum Mobility on the transactions.
“We are building a comprehensive charging network for heavy-duty trucks to make the transition to electrification. This network will need a lot of infrastructure and real estate, and CBRE IM is the perfect partner to help us build charging where it's needed most. Fleets can bring their trucks to our network, or we can provide electric trucks bundled with charging. Today we can provide a Class 8 electric truck, and all its charging needs, at a monthly price that's competitive with diesel—without the emissions," said Matt LeDucq, CEO and co-founder of Forum Mobility. "With new rules coming soon from the California Air Resources Board, we help fleets and drivers looking to make the jump to electric."
Forum Mobility’s existing seed investors all participated in the Series A, including Obvious Ventures, Edison International, Overture, and Homecoming Capital. New Series A investors include CBRE Investment Management, Elemental Excelerator, and Amazon's Climate Pledge Fund.
The Wilson Sonsini team that advised Forum Mobility on the transactions includes Randy Lewis, Scott Zimmermann, Matt Bogdan, Virginia Harris, Benjamin Armuth, Kristy Strohm, Karli McConnell, Kathleen Rothman, Joe Catapano, and Rick Titcomb.