Ev.energy, a London-based software platform that manages the charging of electric vehicles (EVs), announced on Wednesday that it has been chosen to receive a public funding grant of up to $41M (approximately €38M) from the California Energy Commission (CEC).
The announcement comes eight months after raising €29.8M in a Series B round of funding led by National Grid Partners (NGP) with support from Aviva Ventures, WEX Venture Capital, and InMotion Ventures, the investment arm of JLR.
The grant, known as “Responsive, Easy Charging Products With Dynamic Signals” (REDWDS), aims to make affordable EV charging accessible to all Californians.
Utilities and CCAs will match funds to enrol EV drivers into managed charging programs, creating a dynamic EV virtual power plant.
Under the ChargeWise program, the funding will assist in managed charging for 275,000 electric vehicle (EV) drivers in California.
The program will particularly focus on aiding utility and CCA partners to serve underprivileged communities. Over the next four years, these communities will receive incentives worth more than $50M (approximately €46M).
In 2024, the UK company will launch Phase 1 of the ChargeWise program with MCE, Silicon Valley Clean Energy, Peninsula Clean Energy, and Southern California Edison, signing up thousands of EV drivers.
In Phase 2, which will begin in late 2024, ev.energy will scale to 275,000 drivers – equivalent to 5 per cent of California’s estimated fleet – by working with current and new California utility and CCA partners.
Fifty per cent of participants will be in disadvantaged communities, as defined by the CEC.
ev.energy: Making EV charging greener, cheaper, and smarter
Founded in 2018 by Nick Woolley and Chris Darby, ev.energy offers an end-to-end software platform that seamlessly connects with various electric vehicles and chargers, intelligently managing EV charging.
By collaborating with utilities, the UK company also enables customers to save on charging costs by charging their vehicles during grid-friendly times.
Since its inception, the company has secured over 30 national, regional, and municipal utility contracts, and established partnerships with major charging brands and auto original equipment manufacturers (OEMs) like the Volkswagen Group.
The company’s Virtual Power Plant (VPP) boasts more than 120,000 EV drivers across North America and the UK as active participants.
In 2021, the London-based company introduced its commercial trading demand response platform, aimed at fortifying grid resilience and significantly reducing carbon emissions on a large scale.
The year 2023 has been marked by remarkable growth and innovation for the company, with the expansion of its VPP to include Vehicle-to-Grid (V2G) solutions.
The company also launched its fleet management platform ‘Pando’ and ventured into the solar market with its solar home charging function, ev.energy SOLAR.
Beyond its work to enable a cleaner, more resilient grid, ev.energy’s B Corp certification has demonstrated its commitment to delivering broader social and environmental change.
The company has been a carbon-negative business for the past two years with an estimated savings of 762 tonnes of carbon in 2022 alone.
California Energy Commission
The California Energy Commission is leading the state to a 100 per cent clean energy future.
It has seven core responsibilities: developing renewable energy, transforming transportation, increasing energy efficiency, investing in energy innovation, advancing state energy policy, certifying thermal power plants, and preparing for energy emergencies.
“The CEC and the state of California have a long history of making California a global leader in decarbonisation,” says Melanie Biesecker, Customer Programs Manager at MCE for transportation electrification. “MCE’s partnership with ev.energy will provide EV drivers with greater access to grid-friendly charging solutions that save them money and support the clean energy transition. Most importantly, this grant will further our shared mission to improve access to simple, affordable, and green EV charging.”
Read the orginal article: https://siliconcanals.com/news/startups/ev-energy-secures-41m/
