Honda backs smart battery firm Moixa in £8.6m funding round

Moixa currently manages energy storage systems in 7,000 homes across the UK and Japan, aggregating a combined capacity of 70MWh

Smart battery company Moixa has completed an international funding round, raising £8.6 million, led by Japanese carmaker Honda.

The investment will support the company’s international growth and expansion of its business managing home batteries, electric vehicles (EVs) and smart charging as well as aggregating battery capacity to provide grid services.

Other investors include Japanese investment firm ITOCHU Corporation, Contrarian Ventures and First Imagine! Ventures.

Moixa currently manages energy storage systems in 7,000 homes across the UK and Japan, aggregating a combined capacity of 70MWh, which provides a range of flexibility services and supports the grid.

It is working to support Honda’s ambition to make 100% if its European vehicle sales electrified by 2025 and participating in trials that demonstrate how EV smart charging can help homes save money and reduce emissions at peak times.

Simon Daniel, CEO of Moixa said: “We are helping major brands make the transition to a low carbon world of EVs, smart charging and home energy generation and storage, by providing smart software which cuts costs for their customers and helps support the electricity network.

“GridShare uses artificial intelligence to learn about each owner’s energy use and develop a unique charging plan to meet their needs and maximise savings. It knows when it’s most cost effective to buy energy from or sell energy to the grid. It will soon know whether it’s better to charge your car battery or use it to power your home. Our investors recognise that there will be global demand for this technology.”

Technologies for energy users that can help them reduce costs and emissions will be among those on display at The Energy Solutions Show (TESS)  on June 5th at Millennium Point, Birmingham.

If you wish to register as a delegate for free, you can send an e-mail here or to showcase your technology, you can get in touch here.

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