Details

Last Funding Type

Seed

Last Funding Money Raised

$1.90M

Industries

Energy,Energy Efficiency,Energy Management,Energy Storage,Manufacturing,Renewable Energy,Software

Founded date

Nov 1, 2009

Number Of Employee

11 - 50

Operating Status

Active

VCharge identifies electric loads with embedded storage ("transactive load") that cuts the cost of energy storage by an order of magnitude. They aggregate, control, and monetize load through energy arbitrage and by providing grid services.

They focus on electric thermal storage (ETS) heat and domestic hot water heaters. VCharge offers building owners retrofit control equipment for existing heat systems at no charge in exchange for long-term contracts to control the load for ancillary services (they are also working with manufacturers to integrate their controls into their products).

ETS is relatively uncommon in the US, but plentiful in Europe with over 15 million installed units, and there are 40 million electric hot water heaters in the US alone. They save a typical homeowner 25% on the cost of heating their home and earn substantial revenue on energy arbitrage and grid services per kWh.

The company has offices in the UK (Scotland and London area) and in Providence, Rhode Island.