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SolarEdge Technologies Acquires Wevo Energy

SolarEdge Wevo

SolarEdge Technologies, Inc., a renowned global provider of smart energy technology, has completed the acquisition of the

SolarEdge Technologies, Inc., a renowned global provider of smart energy technology, has completed the acquisition of the entire share capital of Wevo Energy Ltd. (“Wevo”), a software startup focused on optimizing and managing EV charging, particularly in locations with numerous EV chargers like apartment complexes, workplace parking lots, and public charging stations.

Wevo’s software is designed to be vendor agnostic and supports industry leading open protocols, enabling multi-user pricing and billing, tiered prioritization of charging schedules, predictive load management, and a range of additional services. To date, Wevo has electrified many thousands of parking spaces across North America, Europe and the Middle East. Wevo is already integrated with SolarEdge’s EV chargers, solar inverters and meters, for a holistic real-time view of solar production, grid consumption and EV charging.

The Wevo solution will also be part of the SolarEdge ONE energy optimization system for the Commercial and Industrial (C&I) segment, designed to offer SolarEdge customers a single energy optimization solution that orchestrates and integrates between on-site solar generation, battery storage and large-scale EV charging.

Zvi Lando, CEO, SolarEdge Technologies, said: “This acquisition represents the continuation of SolarEdge’s strategy to enhance its software portfolio for the C&I segment. We are excited for Wevo to join the SolarEdge team following our initial investment and the impressive progress it has demonstrated over the past year. As the EV market continues to grow, distributed renewable energy will be key to unlocking the full potential of the electrification of mobility. Wevo’s software capabilities and know-how represent a building block for EV-attached solar, and today it becomes a part of SolarEdge’s energy ecosystem.”

Teddy Flatau, CEO, Wevo Energy, said: “Wevo’s mission is to make EV charging accessible by electrifying every parking space. As a subsidiary of SolarEdge, we will be able to develop a combined solution, offering a seamless experience for EV drivers by optimizing charging with clean, solar-powered energy and maximizing cost savings. This will allow a significant step forward to achieving a low-carbon future.”

SOURCE: SolarEdge

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