E.ON acquisition of gridX continues expansion of EV charging services

March 10, 2022 | Case Study

E.ON is investing several million dollars in startups to offer distributed solutions for its 50 million customers and expand its electric vehicle (EV) charging network by 5,000 points by 2026. The company already has more than 14,000 points in its charging infrastructure in Europe. E.ON has taken a majority stake in envelio, a capacity simulation solution for distributed energy resources (DERs), invested in Lumenaza's community energy trading platform, and invested in Virta, a white label, EV charging management platform. The most significant deal was the acquisition of Innogy's grid and customer assets (part of an asset swap between RWE and E.ON). E.ON took an undisclosed majority stake in gridX to continue its build out its DER management and EV charging services.