Dive Brief:
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Electric vehicle charging company Greenlots on Tuesday received funding from Energy Impact Partners (EIP), a utility investment group.
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EIP did not disclose the amount of the funding, but called it “significant” and said it would help the utility industry work towards electrification of the transportation industry.
- In addition, two utility industry veterans have joined Greenlots’ board of directors: Kevin Fitzgerald, chief utility officer at EIP, and Philip Jones, former commissioner at the Washington Utilities and Transportation Commission.
Dive Insight:
The Greenlots investment marks EIP’s first foray into the EV sector. EIP says their investment helps position Greenlots as “the key enabling platform” supporting the increased commitment of the utility industry for the electrification of the transportation industry.
Greenlots’ EV charging stations are able to remotely control loads through smart charging, demand response and behind-the-meter energy storage initiatives.
"With the support of our board and strategic investors, Greenlots is delivering on the promise of an electric mobility future,” Brett Hauser, CEO of Greenlots, said in a statement. "Utilities are in the best position to predict, manage, and balance electricity demand as electric vehicle adoption increases."
Greenlots says it helps utilities manage their demand with its “hardware agnostic” cloud-based technology platform.
Energy Impact Partners include Avista Utilities, Southern Co., Southern California Edison, BC Hydro, Xcel Energy, Oncor, National Grid, and Envision Ventures.
