FAQ: SolarEdge Acquires Wevo
Quick Answers to Your Key Questions

About the acquisition

Since collaborating with SolarEdge on solar-attached EV solutions, it became apparent that our businesses are strategically aligned and we have complementary technologies. Our shared ambition is to electrify the world, and we realized the fastest way to achieve this vision was by joining forces!

Will the acquisition affect Wevo customers?

It’s pretty much business as usual for Wevo customers. There are no planned changes to the existing products and services, pricing, commercial terms and conditions, customer access to products, security, or privacy of customer data. Our customers can expect a long-lasting partner in EV charging management that is constantly innovating to make EV charging accessible and affordable for all. Wevo will keep its own brand identity, and our mission and values remain unaffected.

What about the prospect of new features or products?

Our roadmap and future product development remain firmly in our hands, and our customers can expect us to keep advancing along this path. However, when a leading sustainable hardware-tech giant merges with an agile, fast-growing software team, something truly magical happens. Watch this space!

Will it affect Wevo’s current and future partnerships?

The acquisition won’t affect our existing partnerships. Looking ahead, we want to forge meaningful partnerships that help us advance our vision of electrifying every parking space.

Do you have shared long-term goals?

Absolutely. Wevo and SolarEdge want to help create an energy-efficient and sustainable world, where our energy needs are met without harming the environment. The goal of our partnership is to accelerate this vision by bringing clean energy and smart distribution closer together.

Does this move enhance Wevo's capabilities in renewable energy and EV charging solutions?

Our partnership with SolarEdge—a global smart technology leader—boosts our hardware capabilities, distributing energy in intelligent ways and powering more electric vehicles with clean energy. If we can bring solar energy generation and e-mobility closer together, we consider that a win for the planet.

Will there be any changes to Wevo’s management team?

The leadership and management team at Wevo will remain unchanged; the only difference being the addition of SolarEdge representatives to our board.

Read our blog with insights about the acquisition and watch Adi and Teddy, our co-founders, discuss the partnership here.

About Wevo Energy

What does Wevo do?

We are an EV charging software platform company that optimizes the use of energy for EV charging infrastructure, typically installed in apartment buildings, workplaces, retail parks – places that often have a lot of different loads, a high density of cars and haven’t been designed from the outset for EV charging.

What are the issues with EV charging in the places where you install your solutions?

Typically, as shared-use sites, they have a lot of stakeholders and decision-makers. For example, landlords or building owners, as well as residents or staff. The buildings may have existing multiple electrical loads and limited electrical capacity. Most of them won’t have been designed for EV charging. Upgrading electrical infrastructure to increase capacity is typically very expensive, bureaucratic, and takes a long time. Billing people for the charging sessions is also more complex at a shared-use site.

How does Wevo solve these problems?

Our platform uses smart algorithms to make use of spare electrical capacity for charging. We also take care of billing drivers even though they may be using a shared charger. We can work with any charging hardware that’s compliant with open charge point protocol (OCPP). Through smart load management and by focusing on parking places where drivers will leave their cars for some time, we make EV charging a reality even when the electrical capacity is tight.

How does Wevo make it cheaper to install charge points?

Because our platform does away with the need for expensive grid upgrades, and we can make use of existing EV charge points, a Wevo solution can reduce cost by 30-50% compared to other approaches.

Where does Wevo operate?

Our headquarters are in Israel. We have operations in North America, and we are expanding our businesses in the UK and Europe. In some European countries, many people live in apartment blocks with no way to charge their cars at home. There are currently many thousands of Wevo-powered parking spaces, and the number is growing every day.

What’s the underlying technology that powers your solution?

The Wevo platform boasts a powerful built-in energy management system. By default, and without any additional hardware, it can perform AI-based static load balancing using a fixed panel limit. For sites experiencing congestion or with variable loads, adding a hardware meter can enable dynamic load balancing, further increasing the building’s capacity.

FAQ: SolarEdge Acquires Wevo Quick Answers to Your Key Questions

About the acquisition

About Wevo Energy

FAQ: SolarEdge Acquires Wevo
Quick Answers to Your Key Questions