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Our CEO Nick Woolley reflects on ev.energy’s journey over the past 6 years and the exciting road ahead.
Six years ago, we founded ev.energy with a mission to integrate EV charging harmoniously with the energy grid. Our journey has been remarkable and transformative in that time. We started as a bootstrapped venture, evolved into a friends-and-family backed bet, transitioned to an institutionally backed start-up, and are now proud to be an organized scale-up. At every stage, we’ve undergone significant changes and gained invaluable insights.
Much has changed as we’ve grown. This year alone we’ve integrated Rolling Energy Resources under our US operations and been selected for $41M funding from the California Energy Commission to accelerate the rollout of EV charging solutions in the state, with more exciting developments to come.
That said, several core principles have remained constant. Here are some of my reflections and learnings from the past 6 years:
At ev.energy, we are united by the belief that EVs can be positive for the grid, the planet, and society. By partnering with energy companies and OEMs to integrate EVs harmoniously with the grid, we are accelerating the decarbonization of transport and energy. This mission drives us forward, helping us navigate the challenges of a growing startup. Six years in, the journey remains tough, but the mission motivates my team and me to keep working tirelessly toward a low-carbon world.
Most start-ups don’t survive six years and fewer than 1 in 200 survive to reach $10M in revenues. The risks are high, but as is often the case, the odds of breaking out and seeing our mission through make this journey exhilarating.
Developing an innovative early-stage idea is wildly different from scaling and standardizing a comprehensive product. The evolution is challenging, especially since change isn’t for everyone. It’s also personally difficult when folks move on to new things.
The team at ev.energy is fantastic. It’s a privilege to be working with such dedicated, passionate, and knowledgeable people. I especially enjoy seeing everyone bring their talents together to push us forward in the right direction. It’s a cliché, but being backed by people both inside and outside the business, who share your passion, makes work truly joyful.
I’ve always believed in positive capitalism: it’s possible to build a sustainable, investor-backed business while making a positive impact on the world. Simply put, the longer your business thrives financially, the greater the impact you can have. Over the past six years, we’ve successfully navigated multiple financing rounds, become a certified B Corp, and seen revenues and carbon savings grow in lock-step. In fact, we’ve been carbon-negative for the past three years. Now, we have evidence to prove that you can create a viable business and do good for the planet.
Looking forward, I’m excited about the next phase of our growth. The market is developing rapidly, and while there are many uncertainties, several trends have become clear convictions that will continue progressing in the coming years:
There’s an abundance of negative headlines, but these miss the point. The market is growing and has passed the point of no return. EVs are superior products and will be the way we decarbonize light-duty vehicles.
Integrating large amounts of renewable energy requires a corresponding increase in grid flexibility. Many grids are starting to hit localized limits, and the need to deploy flexible solutions will only intensify.
The traditional method of growing the grid involves extensive physical infrastructure and the investment to match. However, we are on the cusp of Virtual Power Plants (VPPs) being faster to deploy than conventional power plants. For instance, while the UK’s massive Hinkley Point C nuclear power station has been under construction since 2017 and won’t be commissioned until 2029 or later, ev.energy and other VPP operators are set to control more energy than Hinkley Point C by this time.
Powering EVs with home solar panels offers significant cost and carbon savings, while also reducing strain on the grid. Solutions like Solar Charging enable drivers to bring their charging costs to virtually zero by matching their solar generation with their EV charging, effectively harnessing the excess power. This is a clear advantage, and we expect this trend to grow as consumer adoption increases. Stay tuned for exciting developments in our solar solutions soon.
Across Europe and North America, there are thousands of energy companies and hundreds of makes and models of vehicles and EV chargers. Energy companies want seamless access to every EV, and automotive companies want to connect every EV to every energy company to deliver the greenest, best-value energy to their customers’ vehicles. Just like the payments industry, platforms like ev.energy are required to simplify connectivity, help standardize the industry, and reduce transaction costs.
Climate change requires us to act quickly. We’ll keep playing our part, pushing and enabling the industry to go faster. The faster we decarbonize transport and energy, the better it will be for people and the planet.
Thank you to all our customers, partners, investors, and everyone both inside and outside of ev.energy, as well as the entire e-mobility industry, for your contributions and support over the past six years. I’m excited to continue working together to deliver greener, cheaper, and simpler charging to drivers everywhere.
Onwards!
Nick Woolley
CEO, ev.energy
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