Once the transaction is complete, Nissan will become an equal 25% investor and will roll out ChargeScape's services to its EV drivers across the US and Canada.
Last month, BMW, Ford and Honda announced the launch of ChargeScape, whose software wirelessly connects to electric vehicles and manages the flow of electrons in line with real-time grid conditions, temporarily reducing demand when the grid is constrained through smart charging (V1G) and even sending energy back into the power grid when needed (V2G). By providing a single platform for power utilities, automakers, and their customers, ChargeScape streamlines the complexity of electric vehicle grid integration.
ChargeScape also unlocks financial benefits for EV drivers by enabling services like managed charging and vehicle-to-grid export. When connected to ChargeScape's platform, EV drivers who choose to do so can receive financial incentives for temporarily pausing charging during periods of high demand and will eventually be able to sell the energy stored in their vehicle's battery back to the power grid. Doing so helps grid operators avoid dispatching expensive and often high emission "peaker plants" when the grid is overloaded.
Nissan's incorporation into the ChargeScape alliance is of particular significance given its sales of over 650,000 Leaf models, one of the first EVs with the capability to export power back to the grid. Nissan is investing heavily in bidirectional charging (V2X) capabilities for its entire electric fleet, and ChargeScape is currently building virtual power plants composed of bidirectional EVs in California, Texas, and other markets.
"We are delighted to welcome Nissan to the ChargeScape joint venture," said Joseph Vellone, ChargeScape CEO. "Nissan's decision to join us underscores their commitment to helping customers charge more cheaply and sustainably and highlights ChargeScape's central position in the vehicle-grid integration space."
