Smart battery “giant” acquired by ex-Tesla executive to accelerate clean energy transition

Moixa announced today it has been acquired by newly launched Lunar Energy, a US based company that has emerged from stealth with a mission to electrify the home and provide energy independence to millions worldwide.

Lunar will leverage and scale London based Moixa’s GridShare software to manage the world’s batteries across Europe, Japan, the US and beyond. Through Lunar, GridShare will supply a wider range of solutions to electrify homes and connect communities together, building the “green, reliable, and distributed” energy system of the future.

To enable Lunar to deliver on its mission, the company raised US$300m (approx. £253m) in funding over two rounds led by South Korea’s SK Group and Sunrun.

The capital raised has been used to acquire Moixa, hire talent and invest in product development and manufacturing activities in order to bring Lunar’s first hardware product to market later this year.

Today, GridShare software is deployed at scale across 35,000 homes (330MWh of batteries) via ITOCHU in Japan. It also supports advanced smart charging services for Honda electric vehicles, flexibility services for UK distribution network operators, and depot smart charging with UPS in the UK.

Initially working with Western Power Distribution from 2019 through to 2020, GridShare software was used in the first pilot scheme of residential energy storage and software to optimise and aggregate batteries into virtual power plants.

Currently, in official partnership with UK Power Networks (UKPN), GridShare software is providing energy capacity to distribution networks from home energy storage until 2025.

Simon Daniel, co-founder and CEO of Moixa, commented: “As Lunar Energy, we have the exciting opportunity to deliver solutions on a global scale and accelerate the transition to all electric homes around the world.

“This wouldn’t have been possible without our amazing Moixa team, past and present, and the long standing trust and courage of our investors, customers and partners, and support by the UK government and Innovate UK programmes.”

Kunal Girotra, founder and CEO of Lunar Energy, added: “The Moixa team has pioneered and developed innovative energy optimization algorithms over the last 15 years that remain unparalleled.

“Lunar Energy’s hardware, paired with GridShare software for smart charging, fleet management and optimization, will provide a complete offering to our customers and help us deliver on our mission.”

By Matthew Neville – Correspondent, Bdaily

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