Sign up for our popular daily email to catch all the latest EV news!
SWTCH Energy Inc., a prominent provider of electric vehicle (EV) charging solutions, has announced a significant strategic investment of $4 million from Constellation Technology Ventures (CTV). This infusion of capital expands SWTCH’s Series B funding to $31.2 million, enhancing its capacity to innovate and deploy intelligent EV charging infrastructure across North America.
Key Highlights:
- SWTCH Energy received a $4 million strategic investment from Constellation Technology Ventures.
- This brings SWTCH’s total Series B funding to $31.2 million.
- The investment will accelerate the development of AI-driven network monitoring, load management, and SWTCH Cortex, its advanced charging solution.
- SWTCH and Constellation will collaborate to offer comprehensive EV charging solutions to commercial, industrial, multi-family, and hospitality sectors.
- Constellation customers will gain access to scalable and flexible EV charging options.
The investment from CTV, the venture investing arm of Constellation, the largest producer of emissions-free energy in the United States, signifies a strong vote of confidence in SWTCH’s technological capabilities and market strategy. Beyond the financial contribution, this collaboration will see SWTCH work closely with Constellation to deliver comprehensive EV charging installation and management solutions. This partnership aims to serve a wide array of sectors, including commercial, industrial, multi-family, hospitality, and small-to-medium-sized businesses.
Through this relationship, Constellation’s extensive customer base will benefit from access to scalable and flexible EV charging options, designed to bolster sustainability efforts and improve energy efficiency. Carter Li, CEO of SWTCH, stated, “Working with Constellation amplifies our ability to expand EV charging access for multifamily, commercial, and workplace properties while also improving the reliability of charging infrastructure.” He further emphasized the company’s dedication to advancing its differentiated load management technology, ensuring the seamless integration of EV charging into the electrical grid and broader energy markets.
Echoing this sentiment, Dan Verbanac, Senior Vice President of Power, Mass Markets, and Solution Sales at Constellation, remarked, “SWTCH’s approach to managed charging and load flexibility aligns well with our commitment to provide innovative, cost-effective energy solutions to our customers.” He added that SWTCH is “well-positioned to advance sustainable, scalable solutions for businesses and communities.”
Founded in 2016, SWTCH has consistently focused on developing intelligent solutions that optimize charging efficiency and simplify charger management for property owners. This new agreement builds upon SWTCH’s recent introduction of SWTCH Cortex, an intelligent and affordable solution tailored to streamline installation and management for commercial and multifamily properties. This technology is crucial in meeting the escalating demand for EV charging at both workplaces and residential locations. A testament to their growing influence, SWTCH was recently chosen by Greystar, the largest apartment operator in the U.S., to manage 2,500 charging stations across 136 properties in Washington state. This latest investment and partnership with Constellation are set to further solidify SWTCH’s position as a leader in the evolving EV charging landscape.
Sign up for our popular daily email to catch all the latest EV news!
