CM – BP is investing $ 7 million in electric vehicle charging provider IoTecha


LONDON (ICIS) – BP has invested $ 7 million in
IoTecha, a US-based provider of
Charging stations for electric vehicles (EV),
said the British major in energy and petrochemicals

Investing in IoTecha is part of a larger one
Financing round of 13.2 million

The US company uses the Internet of Things (IoT)
Technology for connecting charging points for electric vehicles with
the power grid as well as households and
Building, said BP.

The technology also enables electric vehicle owners to sell
unused electricity back into the grid via a
Method known as Vehicle-to-Grid (V2G), or
bidirectional charging.

BP added that the investment is part of its goal
have over 70,000 public charging points for electric vehicles
worldwide by 2030.

“With the global EV infrastructure market
exceed 55 million chargers in buildings by 2030,
Charging infrastructure has to adapt
Dealing with new hardware and increased performance
Demand, ”says the company.

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