Contract Signed with TeraWatt Infrastructure
SK Signet has won its first electric vehicle (EV) charger supply contract in the United States from TeraWatt Infrastructure, an EV charge point operator (CPO). TeraWatt Infrastructure is a U.S. unicorn company that has attracted more than one trillion won in investment. The two companies are planning to maintain a long-term partnership in the future.
TeraWatt Infrastructure executives visited Korea in July 2022 and directly experienced charging at a charging station where SK Signet’s chargers were installed, confirming its excellent technology. After several rounds of working-level discussions, the two companies agreed on their first transaction in January 2023.
Terawatt Infrastructure is a company founded by Neha Palmer in charge of Google’s energy strategy. It has attracted an investment of about 1.4 trillion won, making it one of the companies drawing much attention in the US charging market.
As the NEVI Program, which sets up ultra-fast charging stations every 50 miles on U.S. highways, has been in full swing, TeraWatt Infrastructure has established a long-term partnership with SK Signet that can quickly respond to subsidy standards set by the program.