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 future and has apparently raised millions in funding to do so, as reported by Handelsblatt. In the future, software will connect energy suppliers as well as e-car owners and charging station operators and control the charging and discharging of electric cars, the company explains to the business newspaper.

With its solution, the start-up aims 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. According to the start-up, it must be possible to plan this in order to be able to supply green electricity on a permanent basis. Energy storage could help with this, among other things. The start-up could benefit from political decisions. At the beginning of July, the German government decided to drastically increase the proportion of green electricity. By 2030, 80 percent of the energy mix is to consist of green electricity.

Elvah and the company Maingau Energie want 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 at public charging stations will be tested. Later, employer and home charging stations will also be included. If everything goes according to plan, the first e-car power stations will go into operation in mid-2019.