PERFORMANCE TEAM - A MAERSK COMPANY & PROLOGIS LAUNCH NEW EV TRUCK CHARGING DEPOT, POWERED BY NATION'S LARGEST EV TRUCK MICROGRID
Prologis and Performance Team announced the launch of Southern California's largest heavy-duty EV charging depot, capable of servicing 96 trucks simultaneously. Located near the Ports of Los Angeles and Long Beach, the depot was constructed in just five months and is powered by the nation's largest EV truck microgrid. The facility supports the industry's shift towards decarbonized supply chains and California's clean transportation goals. It uses Volvo VNR Electric trucks with a 240-mile range and 80% charge capacity in 90 minutes. Key partnerships and innovative solutions were pivotal in overcoming energy supply challenges, expediting the project delivery.
- Launch of the largest heavy-duty EV charging depot in Southern California.
- Facility can charge up to 96 EV trucks simultaneously.
- Constructed in just five months through a collaborative partnership.
- Supports industry shift towards decarbonized supply chains and net-zero goals by 2040.
- Utilizes Volvo VNR Electric trucks with a 240-mile range and 80% charge in 90 minutes.
- Powered by the nation's largest EV truck microgrid, providing up to 9 MW of charging capacity.
- Innovative on-demand charging solution to expedite project completion.
- Strong collaboration with the Los Angeles Department of Water and Power and other partners.
- Contributes to California's clean transportation goals, reducing pollution and promoting energy independence.
- Significant reliance on temporary measures due to delays in grid upgrades.
- High initial investment costs for setting up the innovative charging infrastructure.
- Operational challenges in maintaining the microgrid and ensuring consistent power supply.
- Potential risks related to the dependency on partnerships for project success.
- Uncertainty regarding long-term sustainability and scaling of such large projects.
Insights
The creation of the largest heavy-duty EV charging depot in Southern California signifies a major investment from Prologis and Maersk, reflecting substantial commitment to sustainability. Financially, this initiative represents a strategic long-term investment. For investors, it suggests Prologis (NYSE: PLD) is positioning itself as a leader in sustainable infrastructure, potentially attracting ESG-focused funds and boosting company valuation. Moreover, the rapid construction in just five months showcases efficient capital deployment which can translate to increased investor confidence. However, the high upfront costs might affect short-term profitability, necessitating careful consideration of potential return on investment timelines.
This project addresses the growing demand for EV infrastructure, driven by stricter environmental regulations in California. The new depot not only meets a critical need in the logistics industry but also may give Prologis and Maersk a competitive advantage over peers lagging in EV adoption. For retail investors, understanding the regulatory push towards zero emissions by 2035 for drayage trucks and 2045 for heavy-duty trucks highlights the potential growth in the EV charging market. This positions Prologis and Maersk at the forefront of a significant industry shift, with potential for increased market share and long-term revenue growth.
The utilization of a 9 MW microgrid that can independently operate apart from the main utility grid is an innovative leap. It indicates Prologis’s and Maersk's ability to provide reliable, scalable energy solutions, important for the adoption of EVs in logistics. The microgrid's ability to use hydrogen-ready generators paired with substantial battery storage enhances energy security and sustainability. This technical prowess not only sets a high bar for the industry but also suggests potential for future technological advancements and partnerships, possibly leading to diversified revenue streams through energy solutions.
The 9 MW depot can charge 96 heavy-duty trucks simultaneously; project built in just five months through creative, collaborative partnership.
Located directly off the Harbor (110) Freeway in
"It is our ambition to drive the industry shift toward decarbonized supply chains," said Charles van der Steene, Regional President for Maersk North America. "Expanding the charging infrastructure for commercial electric vehicles is a key part of that. This facility strengthens our ability to offer customers a decarbonized alternative to conventional trucking and brings us closer to our goal of reaching net zero by 2040."
"We're delighted to collaborate with Maersk on this important and innovative new commercial truck charging facility," said Henrik Holland, global head of Prologis Mobility. "To bring the depot online quickly, we delivered an innovative on-demand charging solution as an interim power connection measure. The transition to zero emissions is a priority for both companies, and we're proud to be on this journey together."
Innovation overcame energy supply hurdles
Against the backdrop of
While utilities work to upgrade the electrical grid, companies like Prologis and Maersk are investing heavily in
Public/private partnerships made a difference
"The future of heavy-duty trucking is pollution-free, and companies in
With 20,000 trucks serving the ports of
The Denker charging depot is the third
Reporters: Photo assets can be found here; b-roll can be downloaded here.
Prologis Mobility
Prologis Mobility offers a charging-as-a-service with no upfront costs to its customers and comprehensive solutions that include design and construction, energy procurement, hardware, operations monitoring, proprietary software solutions, and maintenance. Prologis Mobility is also developing public and private EV charging hubs for heavy-duty fleets, offering access to scaled charging located strategically within the company's real estate portfolio.
ABOUT PERFORMANCE TEAM – A MAERSK COMPANY
Performance Team is a Maersk company that operates over 140 electric vehicles across
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects" "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/performance-team--a-maersk-company--prologis-launch-new-ev-truck-charging-depot-powered-by-nations-largest-ev-truck-microgrid-302153649.html
SOURCE Prologis, Inc.
FAQ
What is the charging capacity of the new EV truck depot launched by Prologis and Performance Team?
When was the Southern California heavy-duty EV charging depot launched?
Where is the new EV charging depot by Prologis and Performance Team located?
What is the range and charging time of the Volvo VNR Electric trucks used at the depot?
What is the power capacity of the microgrid used at the EV truck charging depot?
