Solar inverter supplier Solaredge has acquired Wevo Energy, an electric vehicle (EV) charging software startup.
Financial details of the acquisition were not revealed, though Solaredge said that it had acquired the “entire share capital” of Wevo Energy.
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The startup’s software is already integrated with Solaredge’s EV chargers, solar inverters and meters, the company said in a statement, and offers a “holistic real-time view of solar production, grid consumption and EV charging.” Solaredge said that, following the acquisition, Wevo Energy would also be integrated into the Solaredge ONE energy optimisation system for the commercial and industrial (C&I) segment, which the company unveiled at the RE+ trade show last year.
“This acquisition represents the continuation of SolarEdge’s strategy to enhance its software portfolio for the C&I segment,” said Zvi Lando, CEO of SolarEdge Technologies. “As the EV market continues to grow, distributed renewable energy will be key to unlocking the full potential of the electrification of mobility. Wevo Energy’s software capabilities and know-how represent a building block for EV-attached solar.”
Wevo Energy said that it is currently operational in North America, Europe and the Middle East, markets where Solaredge – which is Israeli-owned – already has a presence. Our sister site, Current±, recently published a comparison of the UK and US EV markets.