Phoenix Motorcars (Nasdaq: PEV), a manufacturer of medium-duty EVs, has signed an equipment testing agreement with bidirectional charging innovator Fermata Energy.
Fermata’s platform allows EVs to send energy stored in EV batteries to the local grid (V2G) or to a building (V2B).
Under the agreement, Phoenix’s customers will be able to use Fermata’s bidirectional chargers and software platform to turn their EVs into mobile energy storage assets. Bidirectional charging offers two ways to monetize vehicles while they are parked: earning revenue from the local utility (V2G); or avoiding costly peak demand charges by sending energy to buildings (V2B).
“V2X is the next logical step in the evolution of our medium-duty platform,” said Phoenix CEO Dr. Lance Zhou. “Fermata Energy has proven to be the leader in this technology and offers the skills and the expertise to implement V2X capability as a viable solution for our customers and fleets.”
“V2X bidirectional charging unlocks the value in EV batteries,” said David Slutzky, founder and CEO of Fermata Energy. “Partnering with Phoenix Motorcar adds a new class of vehicles to our bidirectional charging portfolio and extends the opportunities for fleet owners and operators to earn revenue without impacting vehicle utilization.”
Source: Fermata Energy