Today FLEXeCHARGE, a supplier of load and energy management services to charge point operators and charging solution providers, closed a Seed funding round.
One of the biggest roadblocks to a mass EV rollout is the limitations in the capacity of energy grids, which are struggling to cope with increased electricity demands driven by the growing number of EVs on roads.
Sophisticated load and energy management software is urgently needed to mitigate and overcome the risk of grid-upgrade backlogs potentially leaving EV charging stations stranded without power and ensure that society efficiently uses the increasing volume of renewable energy injected into the European grid.
FLEXeCHARGE provides load and energy management services with an open platform that sits between and integrates with both EV charging hardware and charge point management systems.
The company’s vendor-independent technology allows AC and DC chargers to be integrated into one load management platform, locally or via a cloud-based service.
Charge point operators and charging solution providers can aggregate demand for their entire portfolio of charging sites in FLEXeCHARGE’s platform, cutting their charging costs in half by intelligently integrating charging sites with local renewable energy, storage systems, and flexibility markets.
As well as reducing costs, FLEXeCHARGE’s open platform enables its customers to remain independent of their management system and hardware providers by offering the flexibility to connect to any software or hardware, enabling better energy purchasing decisions and driving operational efficiencies. The undisclosed Investment comes from Greencode Ventures, Link Capital and Vireo Ventures.
Max Brandt, CEO of FLEXeCHARGE, shared:
“We see ourselves as the conductor of the e-mobility transition.
We’re helping solve the problem of energy grid capacity as the amount of renewable energy and EV market share increase, which is the biggest challenge in e-mobility today.
I’m thrilled to welcome Greencode Ventures, Link Capital and Vireo Ventures, three firms with leading positions in the energy and e-mobility transitions, into our investor portfolio.
All three have vast industry experience and strong track records, and I’m positive they will contribute vital knowledge as we embark on our commercialisation journey.”
“Smart EV charging solutions are urgently needed, and FLEXeCHARGE has a unique positioning in the industry,” commented Manuel Heckmann, Venture Partner at Greencode Ventures.
“The team has developed the most advanced, intelligent platform and built a solid customer base. We’re excited to support the company in making a significant impact on the green transition of mobility.
FLEXeCHARGE enables more charge point operators and charging solution providers to make smarter energy management decisions for their charging sites.”
The funding will help FLEXeCHARGE advance its platform to offer large-scale optimisation across several sites, bringing innovation from the residential market into commercial charging.
The company will also strengthen its operations, sales and marketing teams and has already begun this process by appointing Christophe Lephilibert as its new Director of Marketing and Growth.
Christophe, who has also joined FLEXeCHARGE’s management team, has extensive e-mobility, energy and technology experience and counts Nokia, Fortum and ElectroMaps — part of the Wallbox Group — as former employers.
Lead image: FLEXeCHARGE. Photo: uncredited.