Gas and energy company Energie 360° has invested in two electric vehicle (EV) technology companies – Munich-based ChargeX and Vienna-headquartered Ubiq – through its Smart Energy Innovation Fund.
ChargeX provides intelligent multiple charging sockets that allow for up to 10 EVs to charge from a single charging port, using smart phase distribution to allocate charge between the vehicles as efficiently as possible.
One of the biggest remaining barriers to mass EV uptake is the availability of charging options, including at home, en route and at destinations. ChargeX is looking to increase the number of charging points using existing power sockets.
EVs also tend to be highly-priced, which leads to a growing market for electric mobility rentals and vehicle sharing. This presents another problem, however, namely that of cars not always being sufficiently charged for incoming users to complete their journeys.
This is where the other company to receive investment, Ubiq, is focused. It has developed artificial intelligence-powered software that lets EV sharing and rental companies see where the areas of highest demand are so they can optimise supply and demand. It can help make sure that adequately charged vehicles are where they are most needed, minimising lost revenues.
Energie 360° is aiming to achieve a 100% supply of renewable energy to its customers by 2040 and has been investing in sustainable energy companies for years through the Smart Energy Innovation Fund, including leading a $5.2m seed round for energy storage technology developer Stabl Energy in October last year.
A few months earlier, it had taken part in a round of undisclosed size for renewable methane production technology developer Electrochaea.
Other companies in the fund’s portfolio include home energy storage system producer VoltStorage, solar film developer Enerthing and gas leak detection technology developer Distran.
Ruth Happersberger, chair of the Smart Energy Innovation Fund, said: “With our investments in ChargeX and Ubiq, we are supporting two young start-ups whose solutions enrich the mobility sector with simple and future-oriented offers and make sustainable contributions to the sharing economy.”
Photo courtesy of ChargeX
