Smart energy firm Solar Edge Technologies has completed the acquisition of Wevo Energy.
The deal will see the energy firm buy the electric vehicle (EV) charging software start-up Wevo as a wholly-owned subsidiary of SolarEdge.
The Wevo solution will also be integrated into the SolarEdge offering, providing customers with an integrated solution for on-site solar generation, battery storage, and EV charging.
Wevo’s platform manages EV charging using AI-based algorithms to increase charging capacity and overcome infrastructure constraints.
The approach makes it suitable for large-scale EV charging installations in apartment buildings, workplaces, parking areas, and other ‘high-density’ charging scenarios that suffer from power constraints, lack grid infrastructure, and have diverse billing needs.
The Wevo platform is electrifying tens of thousands of parking spaces across over 900 sites in North America, Europe, and the Middle East.
Teddy Flatau, CEO of Wevo Energy, said: “Wevo’s mission has always been to make EV charging accessible by electrifying every parking space. By joining forces with SolarEdge, we are creating a powerful combined solution.
“Together, we will offer a seamless experience for EV drivers, optimizing charging with clean, solar-powered energy and maximizing cost savings. This is a significant step forward to achieving a net-zero future.”
Image of Wevo team courtesy of Wevo
