The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

V2G specialist The Mobility House raises US$50 million Series C


Smart charging and vehicle-to-grid (V2G) specialist The Mobility House has raised a US$50 million internal Series C.

The internal round of financing – the company’s first where it disclosed the amount – was led by Mercuria and co-led by Ventura Capital and Green Gateway Fund, while Mercedes-Benz, Alliance Venture, Mitsui, and SP Group also participated.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The money will go towards its technology development and expansion in Europe, North America and Asia. A European press said the amount raised was €50 million, with the two currencies currently at parity at the time of writing.

The company’s main products are its ChargePilot software which enables the optimisation of electric vehicle (EV) charging, and its EV aggregation and Flexibility Trading Platform which leverages V2G charging technology to provide services to the grid. The firm focuses on fleet vehicles.

The firm is based in Germany but has been expanding its US projects. In October, it announced that its ChargePilot software would optimise the charging and dispatch of a fleet of transit buses at the West Oakland Branch of the Oakland Public Library, including to provide backup power for the building’s air conditioning systems which serve the public during unhealthy heat or smoke conditions outdoors.

“That project will not be the last bidirectional project you’ll be hearing about out of The Mobility House in the US this year,” Sarah Woogen, head of USA operations and analytics for the firm told in a recent interview.

In August, the firm joined EPEX SPOT SE, an exchange for power spot markets in 13 different European markets in which it will trade flexibility from 4,500 EV batteries totalling 100MW of power.

“In recent months, it has become increasingly clear: the market for smart charging and V2G is there and developing rapidly. It also has incredible economic and environmental potential for us to tap into,” said Robert Hienz, CEO of The Mobility House.

22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

May 24, 2024
The new tariffs on batteries from China will increase costs for US BESS integrators by 11-16%, consultancy Clean Energy Associates said, adding that new guidance around the domestic content ITC adder will make it easier to access.
May 23, 2024
The Kern County, California hybrid facility will have the capability to generate up to 2GW of solar power co-located with up to 2GW of battery energy storage system (BESS) capacity, spanning approximately 12,875 acres of privately owned land.
May 23, 2024
The Gore Street Energy Storage Fund’s international diversification helped it maintain average revenues across its portfolio, which spans the Great Britain (GB), Ireland, Germany and Texas, US.
May 23, 2024
Innergex Renewable Energy has started operating a 35MW/175MWh battery energy storage system (BESS) in Chile, its second large-scale BESS in the country.
May 22, 2024
We hear from developers, IPPs and upstream battery sources about the US’ decision to massively hike tariffs on batteries and battery components from China.

Most Popular

Email Newsletter