CBRE Group and Forum Mobility form $400M JV for port transit electrification

CBRE Group and Forum Mobility, a zero-emission trucking solutions provider, announced the closure of a $15M Series A funding round, and a new $400M 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 $100M to the joint venture. Currently proposed regulations from the California Air Resources Board would require all of California’s drayage fleet – approximately 30,000 trucks – to be zero-emission by 2035. 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.