GridPoint, an Arlington, Virginia-based company that has developed a "smart grid" platform, today announced that it has acquired V2Green, a Seattle-based company that provides plug-in electric vehicle (PHEV) grid integration technology. This is the initial step in GridPoint's acquisition strategy, which has been supported by a recent $120 million equity financing (also announced today).
"V2Green is a leading innovator in plug-in electric vehicle management and has been instrumental in defining standards for interfacing electric vehicles with the power grid," said Peter L. Corsell, President and CEO, GridPoint. "V2Green's best-in-breed software for electric vehicle management enhances our software platform and its corresponding benefits to utilities."
"We have a great deal of synergy with GridPoint including our software-based approach to modernizing the grid," said John Clark, President and CEO, V2Green. "Our combined capabilities will enable utilities to mitigate the impact of plug-in electric vehicles on the grid while reducing carbon emissions and providing their customers with reduced rates for off-peak charging."
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