The Mobility House secures EUR 50 million to expand market position in the field of smart charging and Vehicle-to-Grid (V2G)
Munich/Zurich, 03 November 2022 –
- The Mobility House secures a total investment of EUR 50 million for its technology development and expansion in Europe, North America, and Asia.
- All existing investors support the dynamic growth as part of an internal round of financing.
- The intelligent integration and control of electric cars as well as their batteries is gaining significant importance in the current energy market, as it is the only way to ensure the energy transition.
The Mobility House AG has successfully completed an internal round of financing, led by Mercuria. The co-leads are Ventura Capital and Green Gateway Fund. Further strategic investors are Mercedes-Benz, Alliance Venture, Mitsui, and SP Group. The EUR 50 million from the series C financing will be used to expand the leading market position in the field of electric vehicle smart charging and Vehicle-To-Grid (V2G). The ChargePilot technology, EV Aggregation and Flexibility Trading Platform developed by The Mobility House will transform mobile and stationary batteries of electric vehicles into “buffer storage” or flexibility potential for the global energy transition.
Electric vehicles can stabilize the electric grid and temporarily store renewable energy. This promotes the expansion and integration of renewable energy. The company’s recently announced start of trading on the European Power Exchange EPEX SPOT SE signals another important step towards the intelligent integration of the mobility and electricity market.
Jean François Steels, Vice President Energy Transition at Mercuria and lead investor, says: “As we embark on our energy transition journey, we see this investment as a smart way to link electric mobility with renewable energy, two fast-growing sectors. This solution is increasing the flexibility of energy markets, which need to accommodate the growing new and intermittent renewable sources of power supply.”
Green Gateway Fund founder Jochen Wermuth and co-lead investor says: “We see The Mobility House as the leading global software platform monetizing electric vehicle batteries, providing grid stability and storage services to a 100% renewable energy and transport system, with the potential to save over 5% of global CO2 emissions.”
Mo El Husseiny, founder of Ventura Capital and co-lead investor, noted: "The Mobility House is a visionary company constantly innovating the next infrastructure steps required to power the clean energy transition forward alongside their strategic partners, and we are proud to continue to support this journey as one of them."
Robert Hienz, CEO of The Mobility House, emphasizes: ”We are delighted about the trust that our existing investors have placed in us. In recent months, it has become increasingly clear: the market for smart charging and V2G is there and developing rapidly. It also has incredible economic and ecological potential for us to tap into. We have the technology ready to cater to and significantly shape this market, and are already well-equipped for the future continued development of our products.”