SolarEdge acquires EV charging software startup

SolarEdge Technologies announced that it completed the acquisition of the entire share capital of Wevo Energy. Wevo is a software startup specializing in EV charging optimization and management for sites with large quantities of EV chargers such as apartment buildings, workplace carparks and public charging locations.

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 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.

“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,” said Zvi Lando, CEO of SolarEdge Technologies.

News item from SolarEdge