WeaveGrid has announced a strategic investment from LG Technology Ventures, the venture capital branch of LG Group. The investment aims to advance WeaveGrid’s grid-interactive vehicle management platform, which enables EVs manufacturers and utility companies to securely integrate EVs into the electric grid. LG Technology Ventures says it is bringing energy storage expertise to WeaveGrid’s cohort of strategic partners, bolstering its development of solutions that connect EVs and batteries with grid operations.
The WeaveGrid platform utilizes artificial intelligence and patented software to manage grid-integrated EV charging, while maximizing grid stability and the value of EV battery storage. Its EV Management System enables utilities to implement advanced vehicle-to-grid integration and distribution-integrated smart charging orchestration with high data security and privacy throughout these processes.
“LG Technology Ventures recognizes the critical importance of intelligent software platforms in unlocking the full potential of EV batteries as grid assets,” said LG Technology Ventures CEO Dong-Su Kim. “WeaveGrid’s proven ability to securely orchestrate EV charging while optimizing grid stability aligns perfectly with our vision of batteries serving as dynamic energy resources. This investment strengthens our commitment to supporting the infrastructure needed for widespread EV adoption.”
The investment adds LG Technology Ventures to WeaveGrid’s list of automotive and energy sector backers, which already includes Woven Capital (Toyota Motor’s fund), Hyundai Motor Company, and Kia Corporation. The platform targets both automakers and utilities seeking to leverage EVs as distributed energy resources.
“With our growing ecosystem of automotive partners, this collaboration enables us to optimize battery performance at both the vehicle and grid level,” said WeaveGrid’s CEO Apoorv Bhargava. “As we advance vehicle-to-grid and vehicle-to-everything capabilities, we’ll unlock significantly more value for EV drivers while delivering a superior charging experience that maximizes both battery life and grid benefits.”
Source: WeaveGrid
