London – A.T. Kearney – A multi-billion-pound shakeout is dramatically increasing competition amongst energy, automotive and technology companies as they battle to lead the transition from hydrocarbons to a low carbon world.
At the heart of this battle is the shift to electric vehicles. A new clean-energy technology company is launched last month to build the underlying applications which harness the potential of electric vehicles to become a central cog of our energy infrastructure.
Among many capabilities, a priority service of EV8 technologies is to enable consumers and businesses to store and sell electricity by using their electric vehicles as a battery.
EV8 technologies is a joint venture between global management consultancy A.T. Kearney, low-carbon technology not-for-profit group Cenex and Brixworth Technology, a boutique development house which specialises in asset and software solutions.
EV8 technologies is working with major automotive manufacturers, car leasing companies, airports, councils and industry bodies to unlock the business models of the future.
The launch of EV8 technologies comes as the clean energy automotive race is accelerating. UK Prime Minister Theresa May announced on 21 May the Government’s intention to position the UK at the forefront of the zero-emissions vehicle market as part of its Industrial Strategy.
Tom Harper, CEO of EV8 technologies, commented,
“The government and private sector have made great progress in breaking the UK’s dependence on hydrocarbons and increasing renewable energy generation over the last decade. However, there is still a long way to go. The battery storage of electric vehicles is the silver bullet to accelerating the transition to clean energy.
“Car batteries are a vital asset – it is irresponsible to waste such a crucial resource as we transition to a cleaner world. In addition, it would help consumers and businesses generate revenues usually reserved for utilities.
“EV8 technologies’ cutting edge digital platforms gives consumers and businesses the opportunity to use their car as a battery, adapt when they charge in a more cost-effective manner and even sell power back to the grid, built around their schedule.
“For example, a car could earn up £1,500 per year for their owners while parked at the airport during the family holiday, at the supermarket while they do their shopping or even at a depot when deliveries are finished for the day.”
Robert Evans, CEO at Cenex, added, “We are entering a very exciting period of transport and energy sector transition driven by the electrification of road transport.
“Cenex is proud to be a founding partner of EV8 technologies as the company to fast track market transformation through leveraging electric vehicle-related know-how combined with big data. This new venture will ensure that the knowledge we have developed through our research can be effectively and agilely applied at scale and across global markets.”
Cross-sector partnerships to shape the energy future
Emily Gravestock, Head of Applications Strategy at the UK Space Agency, said, “Space technology has a significant role to play in the global shift to clean growth, from helping us find the best sites for renewable technologies to providing energy-saving applications to consumers. The UK Space Agency has invested £2.5 million in EV8 technologies because this exciting, innovative company is harnessing satellite data in its efforts to accelerate the uptake of electric vehicles, which is a key part of the Government’s Industrial Strategy.”
Major car manufacturers see the exceptional benefits
Jørgen Pluym, Project Leader, Electrification & Home Energy Management, Honda Motor Europe Ltd said, “Based on the latest vehicle-to-grid technology electric vehicles are no longer a threat but rather an opportunity to secure a stable energy supply. The electrification of transport impacts several sectors such as automotive, oil and energy. New business opportunities will be unlocked through cross-sector collaboration.”
An opportunity for the UK to lead the energy transition
Richard Forrest, Chairman of EV8 technologies and Global Energy Sector Lead Partner at A.T. Kearney, believes that the UK has an opportunity to lead the creation on new energy of energy business models solutions to benefit the consumer and business, whilst accelerating the energy transition:
“As home to multi-national energy companies and one of the most innovative power markets, the UK is an ideal hub to explore low carbon energy opportunities.
“For the companies trying to participate in the transition by harnessing the value of energy storage, the focus so far has often been on the latest technological kit, rather than the architecture focussed on delivering new benefits for the consumer.
“The company that enables the market to harness the power of electric vehicles, while providing simplicity and convenience to the consumer will win this multi-billion-pound race.”