V2Green, a startup focused on smart charging technology, says it has raised a “significant investment” from an individual angel investor as part of the startup’s initial fund raising. “We took in some money in an angel structure, a convertible notes structure,” V2Green CEO John Clark tells Earth2Tech. V2Green’s technology allows a plug-in electric vehicle to communicate with the grid so energy can flow to and from the car as the grid needs, called “smart charging” technology.
The young startup, less than two year old, has mapped out an investment plan. “Our target is to raise enough so that some time early next year we’re moving in to the next stage, probably an A round targeting VC investors,” Clark says. In the mean time, the undisclosed sum of money from the angel will be used to double V2Green’s 8-man team, mostly on the technical side.
While Clark was mum about details, he says a number of new projects are in the works. These include V2Green applications outside of vehicles, which could allow anything with a battery and grid connection to start intelligently sipping and spitting energy from and to the grid. He also said Austin Energy is working to coordinate its large, mostly nocturnal wind power capacity with a fleet of plug-in electric vehicles. V2Green still lacks serious field test results, but it has gathered some big name partners. And as pilot programs start to give the startup real feedback V2Green, and its potential investors, will have a better idea of where the company stands.