Investor Memorandum
Owned-site investment thesis, capital structure, underwriting profile, investor alignment and closing gates.
LockedInvestors & Lenders
An infrastructure thesis the market is already financing.
FMobile combines a conventional fleet-infrastructure repayment case with a larger network opportunity. The thesis is supported by direct LAX operating precedents, institutional infrastructure capital and independent airport-charging research.
Institutional precedent
Equity, grants and senior debt are already funding this asset class.
These are independent market examples, not FMobile partners or endorsements. They demonstrate how strategic sites, contracted demand and operating history can attract progressively lower-cost capital.
TERAWATT
$1B+
Institutional capital announced in 2022, followed in 2026 by an up-to-$300M senior secured facility for EV/AV charging depot acquisition and development.
Capital history →LAXREV
$6.132M
TeraWatt's 29-DCFC LAX-area project had a $6.132M budget, including a $2M CEC grant; the final report said the full charger capacity was committed.
CEC project report →RACER
48 bays
CEC-backed airport charging developed by AMPLY/bp pulse on Hertz property, demonstrating a site-host + grant + strategic-corporate model near LAX.
CEC final report →ZEEM
$50M
ArcLight Capital committed $50M in 2022 to Zeem's fleet-electrification platform, while its LAX depot has become a high-throughput contracted operating asset.
ArcLight investment →Independent examples only. No affiliation, partnership, investment or endorsement by the organizations named above is implied.
FMobile capital thesis
Finance the infrastructure. Preserve the technology upside.
The bank case is designed around charging, fleet services and vehicle turnaround. The investor case adds network replication and future autonomous logistics without requiring speculative technology revenue to repay senior debt.
Credit CaseConventional repayment
Contracted fleet services, charging and turnaround form the core debt-service case.
Growth CaseNetwork replication
Additional customers, higher utilization and additional hubs create operating scale.
Strategic UpsideAutonomous mobility
Cybercab, autonomous delivery and robotics can add enterprise value as markets and regulation mature.
Independent research
Airport charging can support a real infrastructure return.
RMI modeled LAX airport fast-charging ownership structures and found multiple models capable of achieving investment payback periods under ten years. Its work also emphasized utility engagement, future-proofing and multi-megawatt capacity — the same issues at the center of the FMobile site strategy.
<10 yrsRMI modeled payback for multiple LAX hub structures
~15%RMI illustrative profit margin over electricity cost in LA pricing analysis
~10 MWRMI modeled potential fast-charging need at LAX by 2030
110–240 MWRMI modeled LA dedicated ridehail charging need by 2030
Evaluation framework
What lenders and investors can review independently.
| Category | Base / Credit Case | Expansion / Investor Case |
|---|---|---|
| Revenue | Contracted charging, turnaround and fleet services | Higher utilization, new sites, additional operating services and technology-enabled revenue |
| Technology | Current fleet and charging technology only | AI, autonomous fleets and robotics treated as upside |
| Public support | Not counted as committed until awarded or contracted | Can lower project capital cost and improve equity returns |
| Expansion | First LAX-area flagship underwritten on its own | Replicable airport / logistics hub network |
| Risk control | Site control, utility feasibility, customer commitments and fixed/capped vendor scope | New sites financed separately as the operating platform proves itself |
Financial projections, financing structures, site economics and technology assumptions remain subject to diligence, customer contracts, utility availability, permitting, financing terms and market conditions. Nothing on this page constitutes an offer or solicitation to invest.
Private materials
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Lender Package
Credit narrative, sources and uses, repayment profile, demand validation, underwriting gaps and closing requirements.
LockedStrategic Partnership Overview
Capital workstreams, NMTC strategy, utility/public-capital path, community impact and partnership action plan.
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