Evos Energy secures $5m funding
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Fleet energy management and AC charging for electric vehicles (EV) startup Evos Energy has secured a $5 million funding round, which will be used to bring new market technologies ideal for a number of EV charging cases to address challenges for EV fleet operators and EV homeowners/renters, among others.
“This investment validates all the hard work the team has put in since we launched our company, and it shows the belief our investors have in a home-grown manufacturer being able to deliver game-changing offerings for Australians,” said Evos Energy CEO Marcelo Salgado. “Since launching, we’ve unveiled our first charger, the Fleet Home 22 AC Charger and our patented Smart Start solution to help fleet and EV owners simplify and reduce the cost of charging.
“We now have a number of new products on the roadmap and this investment will help bring them to market much more quickly.”
Evos Energy will unveil its newest product at an event in Brisbane from 12pm on Wednesday 19 July. Like the Fleet Home 22 AC Charger, the product is designed to help EV owners simplify and reduce the cost of charging.
Rapid expansion and rollout of solutions to address the needs of EV owners
The company initially raised $1.7 million to help the company expand its team and commercialise its technology.
Since then, Evos Energy has added 22 employees to its manufacturing, sales and engineering departments, while launching its products.
“We’ve seen tremendous growth not just within our team but the opportunities for electric vehicles in Australia,” said Evos Energy chief technology officer Chris Crossman. “Some of the barriers to EV adoption have gone down and we’re seeing pick-up in sales locally – yet the issue holding EVs back from being the logical and only next vehicle purchase for many people here is the availability of charging infrastructure suited to their requirements.”
“It’s a challenge we’re looking to address with each solution we bring to market,” Crossman added.
The Evos Fleet Home22 AC Charger helps fleet businesses to manage costs and energy. It can be easily installed and uninstalled to simplify charging experience for drivers.
Meanwhile, its Energy Management solution – the technology backbone of each of Evos’ chargers – can instinctively choose the ideal idle time for the charger to charge the vehicle, whether its overnight in non-peak periods or during business hours, for instance.
It can also control charge rate, speed and power to ensure owners can manage their energy output, thus reducing the costs of charging at home as much as possible.
“The investment is going to help us build on these market-leading technologies and allow us to deliver our technology roadmap,” said Evos Energy chief experience and innovation officer Seshan Weeratunga. “We aim to make everything simple to use, from installation to charging and energy management. We take this ideal into every product we create, and the result is a user experience that is seamless.”
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