Moisés Barea, VP of Sales at Wallbox
The rapid evolution of the EV charging space has skyrocketed the demand for higher charging speeds, intelligent chargers, and energy management. The EV Industry stakeholders also need to contend with a variety of issues during the course of the product life cycle, including vehicle complexity, certification with utilities, and the ongoing global chip shortage. As a result, there is a need to reimagine the way energy is monitored, used, accessed and optimized for EV owners, drivers, and infrastructure providers.
This is where Wallbox (NYSE: WBX) steps in. Wallbox’s new functionality, Eco- Smart, allows EV owners with a home PV solar installation to choose whether they want to charge using only renewable energy such as solar or balance the renewable energy with grid energy to charge even faster.
With the addition of a power meter Wallbox’s advanced energy management solutions can track real-time consumption. For example, Wallbox’s Power Boost feature is able to measure the household’s real-time energy usage and dynamically adjust EV charging power, which allows for the installation of a more powerful charger. Without Power Boost users may be required to limit the power available to the EV charger to avoid power overloads.
Users can also access Dynamic Power Sharing for EV Fleets through the myWallbox platform which enables multiple chargers to operate simultaneously, maximizing the charging potential according to the local grid’s capacity.
“All of our energy management functions are used in combination with our myWallbox platform, which allows the charging infrastructure owner/operator to run and create a revenue stream from the usage of electric vehicles,” says Moisés Barea, the VP of Sales at Wallbox.
Earlier this year Wallbox unveiled Quasar 2 in the U.S. Planned to launch first in the US, Quasar 2 is the company’s second bi-directional charger for the home. Bi-directional charging gives users the flexibility to use their EVs as powerful energy storage devices as users can charge their EV during off-peak hours, and discharge this energy at another time, including peak periods, to reduce their reliance on the grid. Quasar 2 also comes with Blackout Mode so that users are able to use their EV battery to power their home in the event of a power outage, even those caused by natural disasters. Depending on the car and energy usage Quasar 2 is expected to be able to power a home for more than three days during a blackout, depending on the household's consumption.
With a continuous focus on innovation, Wallbox has experienced a year of rapid growth, both in respect to company success and product expansion. Enric Asunción, CEO of Wallbox, says, “2021 was a pivotal year for us—we became a public company, launched new award-winning products, formed strategic commercial partnerships and expanded into almost 100 markets, all whilst maintaining our focus on constant innovation. We also exceeded internal expectations with year-over-year revenue growth of 266 percent and gross margins of 38.2 percent. These results are a product of the commitment of our employees, the trust of our partners and customers, and the support of our investors. We have a lot to look forward to in 2022.”
One obstacle for many customers is to understand the costs associated with both the installation and use of a charger, especially as these can change depending on multiple variables (distance from the charger to the fuse box, power of the electric vehicle, etc.). In addition, countries or regions often have different procedures when applying for subsidies. This is why Wallbox works with utility companies such as Iberdrola to create a “Plug & Go” package, which includes the purchase and installation of EV Charging solutions at a fixed price, regardless of the type of installation or home type, as well as special offers for the electricity bills for home charging and for charging outside the home. Iberdrola has successfully promoted this package agreement with other critical sector players such as Mercedes-Benz, Volvo Cars España, SEAT, CUPRA and Volkswagen Group España Distribution, Toyota, Arval, and Mazda among others, in addition to the Quadis dealer network.
All our energy management functions are used in combination with our myWallbox Portal that allows the charging infrastructure owner/ operator to run and create a revenue stream from the usage of electric vehicles
Wallbox develops its product portfolio in-house, from concept to production, allowing for unprecedented control and fast turnaround time to get to the market. With the future of energy demanding efficiency and sustainability, the company is constantly researching and developing innovative solutions to help expand its role within the automotive energy space.