Mobility, Urban and Local NeedsElectreon’s technology charges electric vehicles wirelessly, helping charging infrastructure meet rising EV demand
Mobility, Urban and Local Needs
- Founded in 2013
- Total funding and latest funding: £311 million, Post-IPO Equity £43.4 million
- Revenue growth from 2020 to 2021: 100%
- Investors include Capital Nature Ltd., Psagot Investment House, Altshuler Shaham Ltd., Dan Public Transportation Company Ltd.
- HQ: Tel Aviv, Israel
- FTEs: 80-100
- Key clients/partners: Dan Public Bus Company & the Municipality of Tel Aviv, Brebemi Toll Road Operator, The Swedish Transport Administration, The German Federal Highway Research Institute (BASt).
- Key executives: Oren Ezer, CEO and co-founder: 20+ years of experience in Israeli Tech. Hanan Rumbak, CTO and co-founder: 35+ years of experience in Electrical Engineering.
A vehicle fleet owner seeking to transition to electric faces a major constraint: the difficulty of electric vehicle (EV) charging. Public charging stations are limited in number, load the grid, and may be incompatible with a given EV. This difficulty plays out in the data; charging inconvenience was a key reason why one in five Californian EV owners went back to internal combustion cars between 2015 and 2019.
ElectReon looks to solve this through inductive or wireless EV charging. It installs copper coils under roads and ground infrastructure like loading docks and bus terminals. These coils send a current to receivers fitted under EVs, charging them wirelessly whether they are stationary or in motion. Wireless charging provides regular top-ups that increase EV range, free up charging stations, and ultimately enable smaller vehicle batteries. Top-ups are especially salient for heavy-duty vehicles whose high energy needs make electrification difficult.
The global EV stock is projected to expand from 11 million currently to up to 230 million by 2030. ElectReon’s wireless charging will gain from the mismatch between rising EV demand and inadequate charging infrastructure. Its focus on electrifying the heavy-duty segment could reduce transportation emissions, as heavy-duty vehicles contribute a disproportionately large amount of transportation-related GHG emissions. EV battery manufacturing produces emissions, so smaller batteries reduce EVs’ total emissions.
- Expanding into the US
- Expanding current pilots
- Increasing the range of supported vehicles
Public transportation companies, mobility and transport planners, EV and EV battery manufacturers