Palo Alto, Calif. (March 1, 2023) – EverCharge and PassKey, subsidiaries of SK Group, the South Korean conglomerate, are partnering to develop a Battery Energy Storage System (BESS) to supplement EverCharge’s electric vehicle (EV) charging stations.
EverCharge’s American-made EV charging stations, and patented load balancing software, SmartPower, enable large-scale EV charging by managing and controlling electric loads, analyzing the charging patterns of EVs, and intelligently allocating available power based on the individual vehicle’s need. The new BESS developed by Passkey and EverCharge will be used to consolidate power during off-peak hours and deploy the energy via EV charging stations during periods of high demand. By combining EV charging with battery storage to mitigate demand peaks, sites can benefit from lower operating costs and additional energy resiliency.
“For the past decade, EverCharge has been laser-focused on developing innovative solutions to the complex challenges facing the electric mobility industry – and our partnership with PassKey has allowed us to accelerate that goal and turn it into a shared mission,” said Jason Appelbaum, CEO of EverCharge. “We recognize that for some of our customers, there is not a ‘one size fits all’ solution to the question of how to install scalable EV charging systems, and our team is excited to continue working alongside Passkey to develop a battery system to meet the unique needs of our partners.”
As the U.S. arm of SK Group’s sustainable energy solution business, PassKey’s mission is to accelerate the clean energy transition toward net-zero, while providing affordable, convenient, and reliable electricity services to North American customers. SK Group acquired EverCharge in March 2022 as part of this mission.
Passkey intends to integrate innovative business models and technologies utilizing EV charging, energy storage, artificial intelligence, and renewables to solve the lack of sufficient energy and grid stability for customers. PassKey owns and operates significant energy storage assets in multiple locations for a variety of applications, ranging from peak shaving and demand response to EV charging. The energy storage initiatives at PassKey are led by Daejin Choi, head of the product unit and former CEO of Doosan GridTech.
“Passkey was created to identify companies spearheading the next generation of cutting-edge sustainable technology initiatives,” said Jeong Joon Yu, CEO of PassKey. “Our work with EverCharge is accelerating the adoption of EVs by providing scalable, affordable, and fully-managed charging solutions. We look forward to expanding our partnership to continue developing innovative solutions that create new jobs and economic opportunities in local communities, address global issues, and ultimately, build a clean energy future in the US and beyond.”
Earlier this year, EverCharge and Passkey announced a partnership with Avis Budget Group, a leading global provider of transportation solutions, to launch a significant number of EV charging stations at the George Bush International Airport (IAH) in Houston, Texas. The collaboration at IAH is designed to serve as a model for scalable fleet electrification planning at airports across the U.S., and the companies intend to expand this partnership to additional airport locations throughout 2023 and beyond.
EverCharge provides hardware and software EV charging solutions for fleets, multi-unit, and single-family homes. The company’s turnkey offerings are designed to utilize existing infrastructure to scale electric vehicle (EV) charging at the lowest cost. EverCharge’s SmartPower technology maximizes the number of EVs that can charge at once and eliminates barriers, such as data connectivity. Founded in 2013 and headquartered in Palo Alto, EverCharge supports hundreds-of-thousands of users with EV charging stations across the United States and Canada. In 2022, EverCharge was acquired by SK Group, South Korea’s second-largest conglomerate, as part of their multi-billion dollar investment in U.S. energy solutions and sustainable technologies. For more information, please visit EverCharge.com.
PassKey Inc. is a US-based energy transition business entity of SK E&S, one of South Korea’s largest energy companies. PassKey’s mission is to accelerate the US energy transition toward net-zero with affordable and convenient electricity service to customers, based on renewables and energy storage, EV charging, and advanced software solutions. PassKey’s portfolio includes EverCharge, an EV charging solutions company, and Key Capture Energy, a grid-scale energy storage solutions company. PassKey and SK E&S are part of SK Group, South Korea’s second-largest conglomerate with global leading companies in energy, semiconductors and life sciences. For more information on PassKey, visit passkeyinvest.com. For more information on SK E&S and SK Group, visit sk.com.