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FLEXeCHARGE provides energy and load management solutions for CPOs
FLEXeCHARGE, a Danish energy tech company, will use the funds to take the next technological leap within smart load and energy management e-mobility platform.
COPENHAGEN, DENMARK, January 11, 2024 /EINPresswire / -- - FLEXeCHARGE has closed a seed funding round with renowned energy and climate tech-focused venture capital firms Greencode Ventures, Link Capital and Vireo Ventures joining its investor portfolio.
- The Danish energy tech company will use the funds to take the next technological leap with its innovative load and energy management e-mobility platform as it aims to offer grid integration for large-scale, commercial charging sites.
- FLEXeCHARGE's vendor-independent technology delivers load management services for charge point operators and charging solution providers in one platform and works with AC and DC chargers.
FLEXeCHARGE, a specialized purveyor of load and energy management services to charge point operators and charging solution providers, has closed a seed funding round with investments from renowned venture capital firms Greencode Ventures, Link Capital and Vireo Ventures. The Danish energy tech company will use the funds to take the next technological leap with its smart load and energy management e-mobility platform.
As EV adoption continues to rise and bans on internal combustion engine cars grow closer, commercial charging infrastructure continues to be installed rapidly worldwide to offer the same level of convenience and accessibility for EVs as there is for refueling conventional cars. However, one of the biggest roadblocks impacting this 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 is a leading provider of innovative load and energy management services in the e-mobility sector, offering 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 company is helping team energie, the operator of northern Germany's largest fast-charging hub, utilize peak shaving to reduce the risk of high-performance payments when the estimated infrastructure capacity is exceeded. FLEXeCHARGE is also working with Lade, allowing the charging solution provider's customers to benefit from more informed energy and load management decision-making.
Closing its seed funding round will help FLEXeCHARGE achieve its mission of building the most advanced load and energy management platform capable of offering grid integration for large-scale, commercial charging sites, which the company sees as the biggest challenge to delivering a successful large-scale rollout of EV charging infrastructure. Advancing its platform will enable FLEXeCHARGE to offer large-scale optimization 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.
“We see ourselves as the conductor of the e-mobility transition,” said Max Brandt, CEO of FLEXeCHARGE.“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 commercialization 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.”
“We believe that FLEXeCHARGE can develop a truly European footprint,” stated Christian Rangen, General Partner at Link Capital.“We're excited to back FLEXeCHARGE, a promising company perfectly positioned to lead in the exciting energy and load management space. We're primed to share our knowledge and work closely with the company as it aims to deliver holistic energy management for charge point operators and charging solution providers.”
“FLEXeCHARGE's technologically advanced product efficiently solves a tangible problem in the charging industry and has quickly gained significant traction with charge point operators and charging solution providers,” added Thomas Labryga, Partner at Vireo Ventures.“At the same time, it is the perfect platform for additional services in the future. We welcome the company into our portfolio as the latest example of providing financial backing to highly scalable start-ups driving decarbonization via electrification.”
Christophe Lephilibert
FLEXeCHARGE
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