Moixa raises £8.6m for AI battery management: Page 2 of 2

May 16, 2019 //By Nick Flaherty
Moixa raises £8.6m for AI battery management
UK smart battery maker Moixa has raised £8.6m (€9.8, $11m) from a consortium led by car maker Honda.
managing demand and providing a range of flexibility services. It plans to work with Honda on further V2G (vehicle-to-grid) trials in the UK.

Moixa’s partnership with ITOCHU saw it expand rapidly into Japan last year and integrate GridShare into the company’s Smart Star batteries. ITOCHU is the second biggest player in Japan’s home energy storage market with a 17% share.

Moixa is now managing ITOCHU batteries in 6,000 Japanese homes, with a combined capacity of 60MWh. Moixa and ITOCHU are also exploring the potential of creating a virtual power plant (VPP) by using the capacity from the fleet of batteries to provide grid balancing.

“Japan and the UK are both energy islands, producing the majority of their electricity locally. Japanese companies recognise our expertise in managing large fleets of batteries and aggregating their spare capacity to help the grid accommodate large swings in solar and wind generation and growth in EV charging. We plan to expand into other countries, helping them manage the transition to a low-carbon and cost-effective energy system,” said Daniel.

www.moixa.com

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