The Mobility House, a Munich-based startup developing smart charging technology for electric cars, has received €15 million of financing from the European Investment Bank (EIB). The loan is supported by the InnovFin Energy Demonstration Project facility, which is in turn funded by Horizon 2020.
The company will invest in R&D for its charging and energy management system, ChargePilot. As electric vehicles are rolled out across Europe, ChargePilot enables their cost-effective integration into a wider energy infrastructure. The system uses bidirectional charging, also known as vehicle-to-grid (V2G), so that parked vehicles can store energy and help stabilise the grid.
“The Mobility House has devised a technology with significant potential to make electric mobility more attractive and expand the use of renewable energies,” said Ambroise Fayolle, EIB Vice President. “As Europe’s climate bank, the EIB aims to support breakthrough ideas in the field, and we are glad to support a company with a zero-emission vision and the right tools at hand to turn it into reality.”
It seems the German startup is more committed to a zero-emission future than its own self-interest: ChargePilot is a non-proprietary technology “based on open standards to assure maximum scalability” — and adoption by other climate-conscious tech startups.
CEO Thomas Raffeiner says the new investment “shows that smart integrated electric vehicles are an essential solution for reaching our climate targets.”
Photo: ©Antonie Kerwien/The Mobility House