SAN LEANDRO, Calif.--(BUSINESS WIRE)--FreeWire Technologies, a leader in electric vehicle (EV) charging and power solutions, today announced that an independent study conducted by the Electric Power Research Institute (EPRI) validated the functionality and economic advantages of its next-generation EV charging product, Boost Charger™.
In November 2020, EPRI conducted a laboratory evaluation of Boost Charger to verify FreeWire’s two main stated economic advantages over traditional DC fast chargers:
1) Lower cost of installation due to reduced infrastructure requirements
2) Lower cost of operation due to peak-shaving and load shifting capabilities
According to the study conducted as part of EPRI’s Incubatenergy Labs Challenge, the FreeWire Boost Charger enables ultrafast charging while only requiring low voltage input, saving tens of thousands on installation costs and almost $30,000 a year on energy fees and demand charges.
“The single biggest challenge to scaling ultrafast charging is infrastructure limitations – extremely high power is required for fast charging at scale, but enhancing the electric grid in places where drivers will need to charge is prohibitively expensive and complicated,” said Arcady Sosinov, Founder and Chief Executive Officer of FreeWire. “We have developed a novel solution with Boost Charger that addresses these barriers by delivering high power everywhere without expensive and burdensome grid upgrades.”
EPRI estimates an annual $29,180 energy cost savings to the site host over the life of the unit as well as reduced installation costs. These outcomes verify that Boost Charger enables utilities and site hosts to rapidly, and cost-effectively deploy fast chargers to meet growing EV demand.
“EPRI’s report verifies that our technology works as designed, saving our customers tens of thousands of dollars per year, while lowering barriers of adoption to enable rapid expansion of critical charging infrastructure to drive EV growth,” said Sosinov.
The full report can be viewed by EPRI members at the following link: EPRI. The report is also available upon request at sales@freewiretech.com.
FreeWire’s Boost Charger is a powerful battery-integrated electric vehicle charger that delivers high power while significantly reducing demand charges. Easy to connect with existing infrastructure, it can be set up without costly construction or extensive permitting. Boost Charger enables ultrafast charging using the same infrastructure as Level 2 chargers at up to a 40% lower cost of installation versus other fast chargers. With its integrated storage and ultrafast charging speeds, Boost Charger is ready for current and next generation EVs.
FreeWire has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In December 2020, FreeWire and bp pulse, one of the UK’s leading providers of EV charging infrastructure, announced an exclusive MOU for bp pulse to deploy Boost Charger in its operations across the UK. FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.
In January 2021, FreeWire announced a $50 million Series C funding round, led by Riverstone Holdings, with participation from current shareholders bp ventures, Energy Innovation Capital, and Blue Bear Capital. This financing will enable FreeWire to accelerate international market expansion of Boost Charger and expand production capacity to meet unprecedented customer demand.
About FreeWire Technologies
FreeWire's turnkey power solutions deliver energy whenever and wherever it's needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure. Learn more at www.freewiretech.com
About EPRI
The Electric Power Research Institute, Inc. (EPRI, www.epri.com) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, affordability, health, safety and the environment. EPRI members represent 90% of the electricity generated and delivered in the United States with international participation extending to 40 countries. EPRI's principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; Dallas, Texas; Lenox, Mass.; and Washington, D.C.