New Tech Firm Formed by Automakers to Help
Manage Flow of Data, Energy Between EVs and Power Grid
NEW
YORK, Sept. 18, 2024 /PRNewswire/ -- BMW,
Ford and Honda have begun operations of the new joint venture that
they announced last year and have appointed the first CEO and CTO.
ChargeScape is a software platform that integrates electric
vehicles (EVs) into the power grid, shoring up grid stability while
saving drivers money on their charging.
The announcement underscores that automakers remain committed to
EVs – including plug-in hybrids – and are focused on reducing the
total cost of ownership for their customers.
As more Americans switch to EVs, cheaper fueling costs have
become top-of-mind for drivers, particularly while charging at home
where 80% of EV charging occurs according to U.S. Department of
Energy estimates. At the same time, the nation's power grids have
come under increasing strain due to electricity demand from data
centers and the intermittent nature of renewables.
To meet these needs, ChargeScape's technology wirelessly
connects to electric vehicles and, working with participating
utilities, manages the flow of electrons in line with real-time
grid conditions, temporarily reducing demand when the grid is
constrained through smart charging (V1G) and even sending energy
back into the power grid when needed (V2G). EV drivers have the
potential to be rewarded financially for their flexibility and
always have their vehicle charged by the time they specify.
ChargeScape builds off of the early success of these automakers'
work on smart charging through the Open Vehicle-Grid Integration
Platform (OVGIP), which counts multi-state utilities such as Duke
Energy, Xcel Energy and Eversource Energy as clients.
Board Names Two Key Leadership Appointments
Following the official launch of the joint venture, BMW, Ford
and Honda announced the appointment of ChargeScape's first CEO,
Joseph Vellone.
Bringing 15 years of experience in the energy and climate
sectors, Vellone was most recently part of the founding team at
software start-up ev.energy, where he launched and grew the
company's North America business
to include over a dozen utilities and 150,000 EVs.
"Joseph's leadership and track record operating cleantech
start-ups is precisely what we need to make ChargeScape a success,"
said current ChargeScape Board Chairman Shaun Bugbee of BMW.
Before joining ev.energy, Vellone worked as a management
consultant at the Boston Consulting Group (BCG), where he was part
of the firm's energy and environment practice. He is a graduate of
Princeton University and the London
School of Economics. While in high school, his student
research on hydrogen fuel cells was recognized with honors from
Congress and the White House.
"The U.S. has set ambitious targets for renewable energy
deployment and EV adoption, and ChargeScape is here to bridge that
gap between supply and demand of electricity," said Vellone. "We
want to transform EVs from a liability into an asset for the power
grid and help deliver a clean transportation future for our
country."
Newly appointed ChargeScape Chief Technology Officer (CTO)
Kalidindi Raju has over 15 years of
experience leading high-performing technology organizations and is
a recognized leader in cloud architecture, artificial intelligence,
machine learning, analytics, data engineering and product
development. He previously held senior leadership positions at
Amazon, OATI and other technology companies.
Raju holds a Master of Business Administration from Texas
A&M International and a bachelor's degree in computer science
and engineering from the National Institute of
Technology, Rourkela (India).
"Although the vehicle-grid integration market is expected to be
highly competitive, our partnerships with the world's largest
automakers gives us a significant edge. With direct access to the
vehicles, we enable utilities to optimize EV charging securely and
reliably," said Raju. "We plan to fully leverage this key
advantage."
About ChargeScape
ChargeScape is a technology company that connects
electric utilities, automakers and electric vehicle drivers using
software. From its offices in New
York, ChargeScape helps stabilize electrical grids by
optimizing the flow of electrons into and out of EV batteries and
helps EV drivers save money on their charging through cash-back and
other incentives. The company counts BMW, Ford and Honda as
investors, with additional automakers set to join in the coming
months.
BMW Group in America
BMW of North America, LLC has been present in
the United States since
1975. Rolls-Royce Motor Cars NA, LLC began distributing
vehicles in 2003. The BMW Group in the United States has grown to include
marketing, sales, and financial service organizations for the BMW
brand of motor vehicles, including motorcycles, the MINI brand, and
Rolls-Royce Motor Cars; Designworks, a strategic design consultancy
based in California; a technology
office in Silicon Valley, and various other operations throughout
the country. BMW Manufacturing Co., LLC in South Carolina is the BMW Group global center
of competence for BMW X models and assembles the X3, X4, X5, X6 and
X7 Sports Activity Vehicles as well as the BMW XM. The BMW Group
sales organization is represented in the U.S. through networks of
350 BMW passenger car and BMW Sports Activity Vehicle centers, 144
BMW motorcycle retailers, 104 MINI passenger car dealers, and 38
Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the
BMW Group's sales headquarters for North
America, is located in Woodcliff
Lake, New Jersey.
About Ford Motor Company
Ford Motor Company (NYSE: F)
is a global company based in Dearborn,
Michigan, committed to helping build a better world, where
every person is free to move and pursue their dreams. The company's
Ford+ plan for growth and value creation combines existing
strengths, new capabilities and always-on relationships with
customers to enrich experiences for customers and deepen their
loyalty. Ford develops and delivers innovative, must-have Ford
trucks, sport utility vehicles, commercial vans and cars and
Lincoln luxury vehicles, along
with connected services. The company does that through three
customer-centered business segments: Ford Blue, engineering iconic
gas-powered and hybrid vehicles; Ford Model e, inventing
breakthrough electric vehicles along with embedded software that
defines exceptional digital experiences for all customers; and Ford
Pro, helping commercial customers transform and expand their
businesses with vehicles and services tailored to their needs.
Additionally, Ford provides financial services through Ford Motor
Credit Company. Ford employs about 175,000 people worldwide. More
information about the company and its products and services is
available at corporate.ford.com.
About Honda's Commitment to the Environment
Honda is working toward its global goal of zero environmental
impact by 2050 through its "Triple Action to Zero" approach,
including achieving carbon neutrality for all products and
corporate activities, 100% utilization of renewable energy, and
resource circulation, utilizing 100% sustainable materials by
reprocessing products back to raw materials and reusing those
materials in the creation of new products. Toward this goal, Honda
will strive to make battery-electric and fuel cell electric
vehicles represent 100% of auto sales in the U.S. and globally by
2040.
To reduce the environmental impact of its business operations,
Honda also is offsetting CO2 emissions from its North American
manufacturing operations through long-term virtual power purchase
agreements (VPPAs) for renewable wind and solar power that seek to
cover more than 60% of the electricity Honda uses in North America. Honda also promotes
environmentally responsible business practices with its suppliers
and retail dealer partners across North
America. Learn more at
https://csr.honda.com/environment/na-environmental-report/.
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SOURCE ChargeScape