SolarEdge acquires EV charging startup Wevo Energy
Publicly listed US firm SolarEdge has bought the entire share capital of Wevo Energy to boost its presence in the commercial and industrial (C&I) segment.
Wevo is a software startup specialising in EV charging and management for sites with large quantities of EV chargers such as apartment buildings, workplace car parks and public charging locations.
It's a good fit for SolarEdge, whose core product is an intelligent inverter that changes the way power is harvested and managed in photovoltaic (PV) systems. The firm also offers storage, EV charging, batteries, and grid services solutions.
Prior to this acquisition, Wevo's products were already integrated with SolarEdge’s EV chargers, solar inverters and metres, giving a real-time view of solar production, grid consumption and EV charging. SolarEdge says the Wevo solution will now be part of its ONE energy optimisation system for the C&I segment.
Zvi Lando, CEO of SolarEdge Technologies, said: “This acquisition represents the continuation of SolarEdge’s strategy to enhance its software portfolio for the C&I segment. 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.”
