ABB buys electric vehicle charging firm Epyon
Epyon is a provider of electric vehicle charging infrastructure solutions focusing on direct current (DC) fast-charging stations and network charger software
Epyon is a provider of electric vehicle charging infrastructure solutions focusing on direct current (DC) fast-charging stations and network charger software. The acquisition is in line with ABB's strategy to expand its global offering of electric vehicle infrastructure solutions.
The growing number of electric vehicles is driving a global market opportunity for charging solutions including supporting technologies to equip the electrical grid with more sophisticated monitoring systems and software. EV charging station unit sales are expected to multiply rapidly over the next five years, and reach 1.6 million units globally by 2015, according to Pike Research.
Epyon's DC fast-charging stations have been in commercial use since May 2010, and reduce charging time to 15 minutes compared to 6-8 hours using a standard alternating current (AC) charger outlet.
Epyon's equipment and software also enables the charging station owner to monitor conditions and requirements of the station, linking billing and administrative needs. It provides a range of different charging methods for each of the station connections, enabling it to tailor charging to various start conditions, power requirements and charging times.
This strategic purchase follows and is line with last year's investment in San Francisco-based ECOtality, a clean electric transportation and storage technologies company, which enabled ABB to enter North America's electric vehicle charging market.