WeaveGrid, a software company enabling rapid electric vehicle (EV) adoption, has announced a strategic investment from LG Technology Ventures, the venture capital arm of LG Group. This new investment strengthens WeaveGrid’s position as a leading platform for automotive and energy sector collaboration. This partnership is now poised to accelerate the development of comprehensive grid-interactive vehicle solutions that leverage advanced battery management and energy storage capabilities.
Bringing Together Automotive and Energy Expertise
This latest investment highlights WeaveGrid’s unique position at the intersection of automotive and energy innovation. With leading automakers like Hyundai Motor Company, Kia Corporation, and Toyota’s growth fund, Woven Capital, already as strategic investors, this new partnership with a major energy company like LG creates a powerful cross-industry alliance.
“LG Technology Ventures recognizes the critical importance of intelligent software platforms in unlocking the full potential of EV batteries as grid assets,” said Dong-Su Kim, CEO of LG Technology Ventures. “WeaveGrid’s proven ability to securely orchestrate EV charging while optimizing grid stability aligns perfectly with our vision of batteries serving as dynamic energy resources.“
How Intelligent Software Solves Grid Challenges
By leveraging WeaveGrid’s AI technology and patented software, energy companies and automakers can offer enhanced EV owner experiences. The solution makes charging seamless and cost-effective, offering optimized charging and potential revenue share opportunities from grid services. WeaveGrid’s EV Management System (EVMS) enables grid-integrated EV charging and provides a comprehensive suite of solutions for utilities, including a patented approach to distribution-integrated smart charging orchestration (DISCO). WeaveGrid also ensures that vehicle and battery data is handled with the highest security and a privacy-first approach.
The innovative WeaveGrid platform addresses critical challenges such as grid load management, renewable energy integration, and battery optimization. It achieves this by leveraging its software to seamlessly integrate EVs with the electric power grid.
Paving the Way for a Grid-Interactive Future
“With our growing ecosystem of automotive partners, this collaboration enables WeaveGrid to optimize battery performance at both the vehicle and grid level,” said Apoorv Bhargava, CEO of WeaveGrid. “As we advance vehicle-to-grid and vehicle-to-everything capabilities, we will unlock significantly more value for EV drivers while delivering a superior charging experience that maximizes both battery life and grid benefits.“
As the EV market continues to rapidly evolve alongside growing demand for grid flexibility and energy storage, WeaveGrid’s innovative approach is poised to accelerate the shift towards intelligent, grid-interactive electric transportation. This latest investment from a leader in energy storage solidifies the company’s platform as a definitive solution that meets the complex needs of automakers, energy companies, utilities, and EV drivers alike.
Source: WeaveGrid
