Tuesday 18 August 2020

EIB backs German smart charging tech firm with €15m loan

The European Investment Bank (EIB) has approved a €15 million loan for German smart charging technology firm Mobility House to boost vehicle-to-grid (V2G) applications.

The loan will allow the Munich-based company to develop a charging and energy management system which will support the smart integration of electric vehicles (EVs) to the grid.

The firm's pilot programme enables smart charging and discharging of EVs according to the grid’s needs.

Ambroise Fayolle, EIB Vice President, said: "Whilst e-mobility alone will not stop climate change, it is a powerful tool to help us limit the rise in global temperatures to sustainable levels."

Thomas Raffeiner, founder and CEO of The Mobility House said: “The investment of the EIB attests to our vision. It shows that smart integrated electric vehicles are an essential solution for reaching our climate targets."

The company was founded in 2009 and operates in Munich, Zurich and California.