SP Group Boosts Electric Mobility Capabilities via Investmen
SINGAPORE, MUNICH and ZURICH, Sept. 3, 2020 /PRNewswire/ -- SP Group (SP) today announced a strategic investment in The Mobility House AG (TMH) to explore smart charging (V1G) and vehicle-to- grid (V2G) feasibility in Singapore. SP will leverage TMH's expertise and technology in Europe and the United States to boost Singapore's electric mobility capabilities, enabling its energy system to integrate more renewable energy and ultimately mitigate climate change.
Operating from Munich, Zurich and Belmont (California), TMH is a technology company that provides a non-proprietary software for integrating vehicle batteries into power grids using intelligent charging and storage solutions. The collaboration with SP, a leading energy utilities group in the Asia Pacific, expands TMH's reach into Asia. Together, SP and TMH aim to accelerate the goal of a zero-emission future on a global scale and realise the commercial integration of electric vehicles into the energy market.
SP Group Chief Executive Officer, Stanley Huang, said, "SP Group has built deep capabilities in operating Singapore's national grid and upholding its world-class electricity network reliability. We have expanded the breadth of our experience to electric mobility and are rolling out a nationwide electric vehicle charging network in Singapore. Our investment in The Mobility House advances our goal to pioneer sustainable energy solutions in transportation, enabling a low-carbon future for customers."
With its hardware-agnostic Charging and Energy Management system, ChargePilot, TMH created the basis for a uni- and bi-directional integration of electric vehicles into the power grid. The system not only manages the grid-optimised charging process of vehicles but has also been marketing over 3,000 stationary vehicle batteries commercially in various energy markets since 2016, while always considering cycling costs and battery aging. ChargePilot has also been successfully implemented in several hundred projects in Europe and the USA and was recently also supported by the European Investment Bank as a relevant technology. The collaboration between SP and TMH will add value to existing partnerships with international car manufacturers, paving the way for a zero-emission future.
1 Smart charging or V1G enables us to control the charging of electric cars in a way that allows the charging power to be increased and decreased when needed.
2 Vehicle-to-grid or V2G goes one step further than V1G and enables the charged power to be pushed back to the power grid from the battery of an electric car to balance variations in energy production and consumption.
"V2G is the basis for the energy world of the future -- and thanks to our intelligent software, our partners will be able to access it and make use of all the opportunities it holds. With SP on board, it gives me great pleasure to see all those years of hard work at The Mobility House pay off and that we will now be able to cover a global market", said Thomas Raffeiner, CEO and founder of The Mobility House.
In Singapore, the phasing-out of Internal Combustion Engine vehicles by 2040 will accelerate the adoption of electric vehicles (EVs) and the rollout of more EV charging points. With the Singapore government's target to increase solar penetration to reach 2GWp by 2030, integrating V2G technology into the national grid can be the key to managing the intermittency of renewables while maintaining grid stability and reliability.
Similarly, the ambitious climate target of the EU achieving climate neutrality by 2050 and the Paris Agreement's goal of keeping the increase in global average temperature to 1.5 degrees Celsius above pre- industrial levels can be achieved by focusing on renewable energy sources and integrating EVs into the grid. This investment therefore not only brings Singapore a step closer towards lowering the national carbon footprint but will subsequently bring great benefits to a cleaner energy future worldwide.
3 Energy Market Authority of Singapore Media Release – The Future of Singapore's Energy Story (29 October 2019)
About SP Group
SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.5 million industrial, commercial and residential customers in Singapore benefit from SP Group's world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost.
For more information, please visit spgroup.com.sg or follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG.
About The Mobility House
The goal of The Mobility House is to shape an emission-free energy and mobility future. We integrate vehicle batteries into the power grid using intelligent charging and energy solutions. This way, we promote the development of renewable energies, stabilise the power grid, and make electric mobility more affordable. The technology company was founded in 2009 and operates globally from its sites in Munich, Zurich and Belmont (CA). We support our private and business customers on their way to electromobility through the planning and building process as well as the operation of an individual charging infrastructure. As a neutral supplier, we work together with many partners such as charging infrastructure manufacturers, installation companies, back-end system operators, energy suppliers and automobile manufacturers. Our intelligent Charging and Energy Management system ChargePilot enables our customers and partners to integrate electric vehicles into the grid in a way that is both grid-optimised and future-proof. For more information visit mobilityhouse.com.
SOURCE SP Group