Nissan has entered into an agreement to invest in ChargeScape, a joint venture equally owned by BMW, Ford and Honda focused on electric vehicle-grid integration. Once the transaction is complete, Nissan will become an equal 25% investor in ChargeScape and will roll out ChargeScape’s services to its EV drivers across the U.S. and Canada.
Last month, BMW, Ford and Honda announced the launch of ChargeScape, whose software wirelessly connects to electric vehicles and manages the flow of electrons in line with real-time grid conditions, temporarily reducing demand when the grid is constrained through smart charging (V1G) and even leveraging sending energy back into the power grid when needed (V2G). By providing a single platform for power utilities, automakers and their customers, ChargeScape streamlines the complexity of electric vehicle-grid integration.
ChargeScape unlocks financial benefits for EV drivers by enabling services like managed charging and vehicle-to-grid export. When connected with ChargeScape’s platform, EV drivers who choose to do so can receive financial incentives for temporarily pausing charging during periods of high demand and will eventually be able to sell the energy stored in their vehicle’s battery back to the power grid. Doing so helps grid operators avoid dispatching expensive and often high carbon “peaker plants” when the grid is overloaded.
Nissan’s incorporation into the ChargeScape alliance is of particular significance given its sales of over 650,000 LEAF models in the U.S., one of the first EVs with the capability to export power back to the grid. Nissan is investing heavily in bidirectional charging (V2X) capabilities for its entire electric fleet across the world, and ChargeScape is currently building virtual power plants in California, Texas and other markets.
“We are delighted to welcome Nissan to the ChargeScape joint venture,” said Joseph Vellone, ChargeScape CEO. “Nissan’s decision to join us underscores their commitment to helping customers charge more cheaply and sustainably and highlights ChargeScape’s central position in the vehicle-grid integration space.”
“ChargeScape helps us more conveniently and effectively connect utilities to EV drivers, making the ownership experience more valuable for drivers by giving them incentives for participating in managed charging and vehicle-to-grid programs,” said Kent O’Hara, president of Nissan’s 4R battery business. “Joining ChargeScape helps us contribute to a nationwide reduction in CO2 emissions by enabling utilities to use EV battery energy storage to balance peak grid demands, while optimizing the use of renewable electricity sources.”
About ChargeScape
ChargeScape is a technology company that connects electric utilities, automakers and electric vehicle drivers using software. From its offices in New York, ChargeScape helps stabilize electrical grids by optimizing the flow of electrons into and out of EV batteries, and helps EV drivers save money on their charging through cash-back and other incentives. The company counts BMW, Ford, Honda and Nissan as investors, with additional automakers set to join in the coming months.
