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SolarEdge, a leader in smart energy solutions, has recently completed the acquisition of Wevo Energy Ltd., a startup focused on enhancing electric vehicle (EV) charging. Wevo Energy is recognized for its software that optimizes and manages EV charging in high-density locations such as apartment complexes, workplace parking, and public charging stations. This move by SolarEdge aims to integrate and streamline solar energy production with EV charging, marking a significant step in creating a more sustainable and efficient energy ecosystem.
Key Highlights:
- Acquisition Completed: SolarEdge Technologies, Inc. integrates Wevo Energy into its portfolio.
- EV Charging Optimization: Wevo specializes in software for efficient EV charging management.
- Vendor Agnostic Platform: Supports multiple users and devices, facilitating advanced charging services.
- Integration with SolarEdge: Wevo’s technology complements SolarEdge’s existing solar and EV charging products.
- Expansion into C&I Segment: Enhances SolarEdge’s offerings for commercial and industrial clients.
Acquisition Synergy
SolarEdge’s acquisition of Wevo Energy underscores its strategic initiative to expand its software capabilities, particularly for the commercial and industrial segment. Wevo’s software, known for its flexibility across various EV charger brands and its ability to support intricate charging schedules, will now be integrated with SolarEdge’s current technologies. This includes EV chargers, solar inverters, and meters, providing a comprehensive overview of solar production, grid consumption, and EV charging activities.
A Forward-Looking Integration
With the EV market’s growth, the need for distributed renewable energy becomes increasingly crucial. Wevo’s software plays a pivotal role in this ecosystem, enabling the efficient use of solar energy for EV charging. Zvi Lando, CEO of SolarEdge, emphasized the importance of this acquisition in supporting the electrification of mobility and enhancing SolarEdge’s energy solutions.
Wevo’s Vision and SolarEdge’s Support
Teddy Flatau, CEO of Wevo Energy, shared his vision of making EV charging universally accessible and efficient. By joining forces with SolarEdge, Wevo aims to develop a combined solution that optimizes charging through solar energy, thereby promoting a low-carbon future and significant cost savings.
About the Companies
SolarEdge Technologies stands at the forefront of smart energy innovation, providing a range of solutions across PV, storage, EV charging, and more. Its acquisition of Wevo Energy, a company dedicated to simplifying EV charging through advanced software, marks a significant step towards integrating renewable energy with the growing demands of EV infrastructure, pointing towards a greener, more sustainable future in energy management.
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