C2 Ventures Leads Pre-A Round in EdgeEnergy to Solve Critical Power Grid and Supply Chain Problems and Accelerate EV Fast Charger Deployment

CINCINNATI, Oct. 11, 2022 /PRNewswire/ -- EdgeEnergy, an edge-of-grid power infrastructure company with patent-pending single-phase to three-phase conversion technology, is excited to announce that New York based C2 Ventures will be leading their Pre-A Round. They will use this new capital to scale the company to meet the demand for their products and solve critical power infrastructure and supply chain problems for utilities across the U.S. that threaten to slow the deployment of EV Fast Charging stations.

EdgeEnergy's technology uses both mechanical and digital conversion technology to provide three-phase infrastructure for EV Fast Charging Stations in locations where the power grid is insufficient or unavailable. Their proprietary technology uses the existing single-phase power grid to supply power to EV Fast Charging Stations and promises to save station operators hundreds of thousands of dollars when deploying EV Chargers. Their technology can save states millions of dollars in power grid upgrades allowing them to make more efficient use of newly allocated dollars from the Federal Infrastructure Bill potentially making way for additional charging stations to serve EV drivers across the country.

EdgeEnergy is working with station manufacturers and networks to deploy EV Fast Charging Stations using their technology at pilot sites in West Virginia, Michigan, Ohio, Kentucky, Indiana and Tennessee and anticipates more than 100 installations in 2023.

The company recently released their 100-kilowatt (kW) device and will release a 150 kW product later this year. They will also be releasing an integrated battery that will increase output to more than 200 kW and provide lower power costs in the spring of 2023.

"As the U.S. embarks on a massive expansion of electric vehicle charging station infrastructure to meet EV adoption targets, one of the biggest challenges is the compatibility of the grid itself. While there has been talk of upgrading the grid, with current costs between $100,000 and $300,000 per mile, this isn't even close to feasible and battery driven fast charging solutions can only charge 4 cars before needing hours to recharge is a flawed model at best," said Chris Cunningham, founder and managing partner of C2 Ventures. "Enter EdgeEnergy, their highly efficient technology can provide uninterrupted fast charging with any charging station or network, regardless of local infrastructure limitations."

SOURCE EdgeEnergy