dcbel attracts investment on its bidirectional EV charging from Volvo Cars

MONTRÉAL and GOTHENBURG, Sweden, May 17, 2023 /PRNewswire/ - Smart home energy company dcbel has secured a strategic investment from Volvo Cars. The Swedish car manufacturer has chosen to support dcbel's R&D and go-to-market endeavors through its corporate venture capital arm, the Volvo Cars Tech Fund.

"Home Energy Management Systems will play a vital role as we move towards bi-directionality of electric vehicles," said Alexander Petrofski, CEO of Volvo Cars Tech Fund. "Rising energy prices coupled with frequent blackouts are challenges faced by consumers today and our investment in dcbel and their technology can help alleviate those challenges for our customers."

dcbel r16 Home Energy Station is a leading multifunction residential bidirectional EV charger. By simultaneously converting the electricity generated from rooftop photovoltaics and stored inside home batteries, the device automates the management of next generation whole-home energy. Intelligent software built into the Home Energy Station uses these alternative energy sources to seamlessly reduce environmental and financial costs for homeowners and also the environmental impact of energy usage generally.  

This feature promises to ease strain on the electric grid: when connected to a compatible smart charger like dcbel r16, bidirectional cars (together with other energy storage systems) can form a virtual power plant, helping control energy demand and sell energy back to the grid. Bidirectional charging also offers many benefits for homeowners, who can leverage EV energy to power their home at times of peak utility pricing or during a power outage, and to be compensated for selling energy back to the grid.

"Volvo Cars and dcbel share the same values: safety, sustainability and the pursuit of technological advancement," said Marc-Andre Forget, CEO of dcbel. "We are proud to have been selected by Volvo Cars and excited to play an important role in their mission to fully electrify their fleet."

Customers who purchase a dcbel Home Energy Station will enjoy a seamless and integrated experience from the start, with the option to customize and purchase their vehicle and renewable home energy bundle online.

Once installed, the Home Energy Station will automate all energy management decisions involving the EV, including automated charging to eliminate range anxiety, vehicle-to-home (V2H) peak shaving when utility rates are high, blackout protection immediately following a power outage, vehicle-to-grid (V2G) export optimized based on demand, and protection against battery degradation.

dcbel's all-in-one operating system, Orchestrate OS, also synchronizes with a home's solar power generation and stationary battery storage. Using proprietary apps, the Home Energy Station calculates the best ways to use, store or sell home energy every five minutes. Homeowners can maintain complete visibility and control over their energy through their smartphone and other connected devices.

"dcbel's Home Energy Station puts homeowners and their families at the center of the home energy ecosystem, and that's a big part of what makes us unique," explained Forget.

dcbel was founded in 2015 on the principle that everyone deserves clean, reliable and sustainable energy to live a life without compromise.

The company's Home Energy Station perfects the art and science of smart home energy, allowing people to take ownership over their energy supply with one small device. Homeowners can supply their home and EV with solar power, use vehicle-to-home charging to make power outages a thing of the past, and reduce energy costs with artificial intelligence.

dcbel's cloud IoT management platform Chorus, which was certified to the Common Smart Inverter Profile (CSIP)/IEEE 2030.5 standard in 2022, provides the components necessary to optimize and aggregate all residential distributed energy resource (DER) devices in real-time. dcbel's flagship product, the r16 Home Energy Station, leverages Chorus to safely manage the bidirectional flow of energy between the home and the grid.

To learn more, visit dcbel.energy.

SOURCE dcbel Inc.