PowerShare, the developer of AI & Cloud based sustainable energy digital services intended to provide Energy & Battery AI technology, is closing series A+ round of financing. The round was led by Volvo Cars Tech Fund and Alliance Ventures participated.
This investment will enhance the global market expansion of its core businesses, such as Virtual Power Plant (VPP), Distributed Energy Resources Management System (DERMS), Battery AI Platform (BAP) and Energy AI Platform (EAP).
As a reminder, PowerShare is a digital energy and intelligent power management company with leading battery and energy AI technology at its core，and provides cloud-based energy management solutions, with over 100 proprietary AI algorithms in the field of battery performance, virtual power plant and smart charging technology.
One of PowerShare’s core offerings is the Virtual Power Plant (VPP) cloud solution, which can help foster more sustainable energy solutions.
This service-provider software platform connects and aggregates energy terminals such as industrial and residential energy storage, and charging stations, including clean energy terminals, such as solar panels and photovoltaic panels.
Based on AI, IoT (Internet of Things), and big data, VPP can carry out electricity trading to match energy production with energy demand from the grid. The system can overcome challenges caused by extreme weather and other external factors that disrupt green energy power supplies, compensating for the disadvantages of the traditional grid.