SolarEdge acquires EV charging optimization and management startup

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In June SolarEdge Technologies announced it was implementing a new software platform for the management of solar-attached EV charging facilities, and now it has bought the company.

The software was developed by Israel-based startup Wevo Energy. Its AI-based solution supports multiple chargers onto a single electric wire, the company reports, dynamically managing the available current between units enabling simultaneous charging of multiple cars.

Wevo Energy was founded in 2021 with the goal of bringing EV charging to densely populated parking areas. The solution is deployed at over 900 sites, electrifying over 60,000 parking spaces.

As the EV market continues to grow, distributed renewable energy will be key to unlocking the full potential of the electrification of mobility,” said Zvi Lando, CEO, SolarEdge Technologies. “Wevo’s software capabilities and know-how represent a building block for EV-attached solar, and today it becomes a part of SolarEdge’s energy ecosystem.”

Designed to be vendor agnostic, Wevo’s software solution supports industry leading open protocols, enabling multi-user pricing and billing, tiered prioritization of charging schedules, predictive load management and additional services. Its load management technology uses AI to intelligently allocate power where it’s needed most, allowing sites to install more charging stations without expensive infrastructure upgrades, the company reports.

SolarEdge reports that the Wevo software will be part of the SolarEdge ONE energy optimization system for the commercial and industrial (C&I) segment, which is designed to offer a single solution that enables the integration of on-site solar generation, battery storage and large-scale EV charging for SolarEdge customers. SolarEdge ONE was previously targeted at the residential segment.

Wevo will operate as a subsidiary of SolarEdge, according to Teddy Flatau, Wevo Energy CEO. He said that the combined solution will offer “a seamless experience for EV drivers by optimizing charging with clean, solar-powered energy and maximizing cost savings. This will allow a significant step forward to achieving a low-carbon future.”

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