Elvah apparently collects millions

The start-up wants to establish itself as a pioneer of the energy transition and build a decentralized energy storage system.

The start-up Elvah, which has so far focused on charging apps for electric vehicles, wants to expand its business areas in the future and has apparently raised millions in financing for this purpose, as reported by Handelsblatt. In the future, software will link energy providers as well as e-car owners and charging station operators and control the charging and discharging of electric cars, the company tells the business newspaper.

With its solution, the start-up wants to solve a major problem in the energy transition. Depending on the weather, time of day and season, the ability of the sun and wind to generate electricity is subject to strong fluctuations. The start-up says that it must be possible to plan this in order to be able to supply green electricity on a permanent basis. Energy storage, among other things, could help with this. The start-up could benefit from political decisions in this regard. At the beginning of July, the German government decided to drastically increase the share of green electricity. By 2030, 80 percent of the energy mix is to consist of green power.

Elvah and the company Maingau Energie plan to launch the first pilot projects at the end of the year. Richard Schmitz, managing director of Maingau Energie told Handelsblatt, "It's not size that matters, but speed." Initially, charging and discharging would be tested at public charging stations. Later, employer and home charging stations would also be included. If everything goes according to plan, the first e-car power plants would go into operation in mid-2019.