EnergyHub, Synop Software Partnership Tackles EV Fleet Charging Management

EnergyHub, a provider of distributed energy resource management systems (DERMS), and Synop, a charging and energy management software company for commercial EV fleets, are partnering to prepare "utilities and fleet owners for an EV-centric future."

The partnership extends Synop’s fleet charging management capabilities to "enable fleet operators to generate additional revenue from grid services (V1G/V2G) and enables utilities visibility and control of charging assets," the companies added.

Integrator & Partner Opportunity: The partnership focuses on a rapidly growing industry. Indeed, the electric vehicle charging station market is expected to reach $111.90 billion by 2028, up from $17.59 billion in 2021, according to Fortune Business Insights. That's a compound annual growth rate (CAGR) forecast of 30.3%, the researcher said.

EnergyHub: IoT Software Focus

EnergyHub, based Brooklyn, New York, develops software that allows consumers to "turn their smart thermostats, water heaters, and other products into virtual power plants that keep the grid stable and enable higher penetration of solar and wind power," the company asserts.

EnergyHub is backed by multiple venture capital firms. The company raised $14.5 million in Series B funding in August 2021. The company had 130 employees listed on LinkedIn as of May 3, 2023.

EnergyHub has a DER partner ecosystem that spans manufacturers of thermostats, electric vehicles, EV charging equipment, energy storage systems, solar inverters, and water heaters. The company claims to have more than one million of those distributed energy resources (DERs) under management. EnergyHub works with more than 60 utility clients across North America and hundreds of device partners to support DER-based virtual power plants (VPPs). VPPs are critical components of the resource stack, keeping the grid reliable and accelerating decarbonization, EnergyHub asserts.

Synop: EV Fleet Management Software

Synop, based in New York, develops software for electric vehicle (EV) fleet management, charging management, vehicle-to-grid (V2G) energy management, and payment management. The company has 24 employees listed on LinkedIn as of May 3, 2023.

Synop raised $10 million in seed funding in May 2023. Key investors include Obvious Ventures, Wireframe Ventures, Congruent, and Better Ventures. 

In a prepared statement about the partnership, Jeff Huron, senior manager, EV business development at EnergyHub, said: "Combining Synop's technology with the EnergyHub EV platform allows us to provide utilities with a solution that enables the acceleration of fleet electrification. The combined platforms optimize the build-out of the grid while keeping the EV fleet operator at the core of everything we do. The integration with Synop supports scalable, sustainable fleet data collection as well as V1G and V2X use cases, unlocking new value streams for utilities and fleet owners."

Added Synop COO Mark Braby: "Utilities hold the keys to achieving transportation electrification targets as they build the infrastructure needed to ensure charging demands can be met. We will not get there unless utilities are working with fleet customers on energy management solutions - and that's why the partnership between EnergyHub and Synop is so critical."

Looking ahead, EnergyHub and Synop plan to leverage their partnership to "facilitate managed charging and V2G programs for utilities and ISOs across North America," the companies said.