OVO and energy software business, Kaluza, today announce partnering with Volvo Cars to develop electric vehicle (EV) managed charging solutions to Volvo Cars and OVO customers in the UK. The solutions will include one-way smart charging and bi-directional charging, with both due to launch in 2024. The new Volvo EX90 all-electric SUV will also launch in 2024 and be the first Volvo Cars vehicle capable of bi-directional charging.
The solutions will enable Volvo Cars drivers to save money on their EV charging through Kaluza’s advanced algorithms that shift charging to the cheapest and most sustainable times – technology that has already saved OVO Charge Anytime customers over £2.8 million so far this year[1]. By increasing access to smart charging and lowering EV ownership costs, solutions such as these will support EV adoption in the UK.
The development of bi-directional ‘V2X’ charging services with Volvo Cars will not only allow customers to charge up for less, but reward drivers for exporting surplus energy back to their homes and helping to balance the grid. As a result of OVO and Kaluza’s V2G programme launched in 2018, drivers saved an average of £420 a year on their household electricity costs, with some saving as much as £800[2].
Alex Thwaites, Director of EV at OVO commented:
“V2X is one of the most exciting developments coming out of the transition to electric vehicles. We know that the only way to achieve net zero is to create a smart energy system and flexibility will play a critical role in making that happen. EVs can provide huge amounts of flexibility but to make that a reality we need innovative partnerships such as this to unlock that massive potential, where we can use stored energy in EVs to reduce pressure on the grid, mitigate millions of pounds of infrastructure upgrades and reward customers for doing their bit. OVO is passionate about this and we are thrilled to be partnering with Volvo and Kaluza.”
Neel Gulhar, Chief Product Officer at Kaluza commented:
“Launching these kinds of managed charging services requires tight collaboration across retailers, OEMs and customers so we are thrilled to be orchestrating this new proposition with Volvo and OVO. Over the last four years, Kaluza has proven the considerable cost and carbon savings potential of one-way charging – value which is multiplied several times over through V2X. We are excited to deliver these innovative services to Volvo drivers up and down the country and accelerate the energy transition together.”
About Volvo Cars
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2022, Volvo Cars employed approximately 43,200 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
About OVO
OVO was founded in 2009 and believes that energy can be better for people, their wallets and the planet. OVO is on a mission through its sustainability strategy Plan Zero to tackle the most important issue of our time; the climate crisis, by bringing our customers with us on the path to zero. OVO has committed to being a net zero carbon business and achieve bold science-based carbon reduction targets, while helping customers reduce their household emissions at the same time. OVO was awarded Company of the Decade at the BusinessGreen Leaders’ Awards and has won multiple awards, including Innovation Project of the Year, for investing in the market leading technology, customer service operations and digital products to help customers cut their carbon emissions. OVO won the award for Best Place to Work for Women and came Top 10 for Very Big Organisation in The Sunday Times’ Best Places to Work 2023 for offering forward thinking policies and better flexibility for everyone to balance work with life.
About Kaluza
Kaluza is an energy software company powering the future of energy. From revolutionising billing to smart electric vehicle charging, Kaluza’s technology is empowering some of the biggest energy suppliers to better serve millions of customers. Its real-time cloud platform transforms supplier operations, reducing cost to serve and boosting customer engagement. Powered by Kaluza, suppliers can invest in innovating for tomorrow’s customers and drive decarbonisation with smart, low carbon technologies that not only reduce energy bills, but lay the foundations for a more flexible energy system.
Contact
OVO
Email: media@ovoenergy.com
Kaluza
Email: media@kaluza.com
