TORONTO, July 12, 2022 (GLOBE NEWSWIRE) -- Peak Power, a Canadian climate tech company with a core focus in energy management and energy storage, announces it has received a $765,000 investment through Natural Resources Canada’s (NRCan) Zero Emission Vehicle Infrastructure Program (ZEVIP) to install 117 V1G chargers. The total cost of the project is valued at over $1.6 million.
Peak Power will install the V1G chargers across several mixed-use developments in Ontario. Peak Power’s Synergy technology, which is currently used in the company’s successful Peak Drive EV charging project, will underpin the chargers. The Synergy tech will enable the chargers to draw energy from the grid when it’s most widely available and avoid times of peak demand, and can also adjust the flow rate at which the cars are charged. The intelligent chargers will reduce strain on the grid, benefiting utilities and electricity users by increasing grid capacity as well as giving EV drivers more locations to charge their vehicles.
As part of ZEVIP, the project supports the federal government’s goals of accelerating the electrification of Canada’s transportation sector. The 117 chargers will encourage adoption of EVs, as drivers have access to expanded infrastructure for charging. From the perspective of grid operators, the intelligent nature of the Peak Power software will allow more capacity from the grid without requiring major infrastructure upgrades.
Peak Power will work with partners with deep expertise in EV charging to install the chargers. SWTCH Energy is co-developing the software for the EV chargers with Peak Power, while Signature Electric will install the hardware and supporting infrastructure.
“We’re thrilled to support the Canadian government's electrification goals through smart EV charging,” said Matthew Sachs, COO of Peak Power. “The funding from NRCan will enable us to provide drivers with more options for EV charging, while the smart nature of our Synergy tech in the chargers means grid operators don’t have to worry about capacity restraints when EVs are plugged into the grid. ZEVIP is critical to greater electrification of the country’s infrastructure, and we’re proud to support the initiative.”
“Happy EV Week, Canada. Our government is making electric vehicles more affordable and charging more accessible where Canadians live, work and play,” said the Honourable Jonathan Wilkinson, Minister of Natural Resources. “Investing in more EV chargers, like the ones announced today in Ontario, will put more Canadians in the driver’s seat on the road to a net-zero future and help achieve our climate goals.”
"I'm pleased to be announcing the deployment of over 100 Electric Vehicle chargers across Ontario with Peak Power,” said Julie Dabrusin, Parliamentary Secretary to the Minister of Natural Resources and to the Minister of Environment and Climate Change, and Member of Parliament for Toronto-Danforth. “This $765,000 investment by the Government of Canada will allow folks in Toronto and across the province to access the infrastructure they need to drive an EV while fighting climate change. Happy #EVWeek!”
"Limited access to EV charging infrastructure in high-density mixed-used environments remains a key barrier to widespread EV adoption,” said Carter Li, CEO of SWTCH. “SWTCH’s partnership with Peak Power and Signature Electric to deploy V1G technology to these settings will enhance coordination between energy utilities, building operators, and EV drivers to improve building energy efficiency and access to EV charging infrastructure.”
“Signature Electric is proud to be a partner on increasing the availability of localized charging for Canadians,” said Mark Marmer, Owner of Signature Electric. “Together, we can scale EV infrastructure to support Canada’s commitment to achieving net-zero emissions by 2050.”
Those interested in learning more about Peak Power’s smart EV charging can visit https://peakpowerenergy.com/, and https://www.nrcan.gc.ca/energy-efficiency/transportation-alternative-fuels/zero-emission-vehicle-infrastructure-program/21876 to learn more about the Canadian government’s drive for energy efficiency.
About Peak Power
Peak Power is a climate tech company founded in 2015 operating in Ontario, New York, New England, and California. Their flagship software, Peak Synergy, provides decarbonization solutions for commercial real estate and industrial customers by optimizing three core energy assets: battery energy storage systems, grid-interactive buildings, and electric vehicles. Peak Synergy enables customers to minimize operational costs, reduce emissions, and sell energy back to the grid. Peak Power’s software delivers results with innovative projects that take commercial and industrial scale storage systems and electric vehicles into electricity markets. Peak Synergy is deployed in over 10M sq. ft. of real estate, with ~90 MWh of battery and electric vehicle capacity under contract or committed, and reducing greenhouse gas emissions by 72k TCO2e every year.
Contact info
Justin Williams
Trevi Communications for Peak Power
(978) 539-7157
justin@trevicomm.com
