Moixa is celebrating a new milestone, with it’s AI software GridShare now managing more than 20,000 batteries in Japan alone.
The news follows the British smart battery and EV charging software company announcing it had reached 10,000 batteries just last November.
Additionally, it has received a further £4.6 million of investment from the ITOCHU Corporation. This will help support further expansion of GridShare in Japan, the UK, mainland Europe and the US.
The investment is bridge funding, coming as a convertible loan from the Japanese Fortune 500 company. It is the first step towards Moixa’s Series C fundraising, within which the company plans to secure a further £10 million by the end of 2020.
“An intelligent green recovery from COVID-19 is essential to mitigate the impending impacts of climate breakdown,” said Simon Daniel, CEO of Moixa. “AI technology gives us the edge we need as societies to accelerate the shift from fossil fuels, without placing unbearable costs on consumers.
“Our pace of growth in Japan alone shows clear demand for smart, scalable solutions for the energy transition. By automatically optimising our homes, electric car charging and energy systems to use the cleanest and cheapest power available, we can create a new energy economy that benefits everyone.”
The GridShare software integrates data from a household with that from the wider environment, such as energy prices, demand and the weather, to optimise energy storage and EV charging.
Last year, the company announced a number of partnerships that combined the software with solar, EVs and batteries to optimise energy systems. These included a “revolutionary” solar-plus-storage-plus-EV offering together with EO, and a virtual power plant partnership with Irish supplier Energia.
The funding will additionally aid Moixa with its new smart charging partnership with Honda, which is due to be launched this summer. The automotive giant is set to launch an intelligent charging subscription for EVs dubbed e:PROGRESS, which was was announced in March.
Moixa and Honda have partnered previously, after the battery storage firm secured funding from Honda in May 2019, to help it pursue international storage and EV charging expansion.