EV charging software platform ev.energy has raised $33 million (£26m) to drive electric vehicle (EV) grid integration in North America and Europe.
The funding round was led by National Grid Partners (NGP), with support from Aviva Ventures, WEX Venture Capital and InMotion Ventures, the investment arm of Jaguar Land Rover (JLR).
The latest investment will enable ev.energy to expand its global operations, connecting EVs and chargers to its virtual power plant (VPP) and enable vehicle-to-grid services and providing a pathway for the company to access an additional 400 million energy customers.
Its end-to-end platform manages charging for more than 120,000 EVs daily by charging vehicles at grid-friendly times.
Nick Woolley, CEO of ev.energy said: “In the next few years, total EV demand in most developed countries will surpass the energy output of even the largest power plants – for example, the Behemoth Palo Verde Generating Station in the US.
“As more EVs come online, optimised charging and load maintenance will remain critical tools for ensuring grid stability. By being able to shape and control EV load, ev.energy can both benefit the grid and help drivers to charge using the greenest and cheapest energy.”