SIRIUS energy management software receives Smarter E Award
Thanks to intelligent energy management, electricity costs can be significantly reduced and the share of renewable energy in electricity consumption can be substantially increased.
Munich, 13 June 2023; Wallbox Chargers, a leading global provider of charging and energy management solutions for electric vehicles (EV), was honored this evening at the Smarter E Awards held at the Congress Center Munich (ICM) for its intelligent energy management software SIRIUS. The award was accepted by Daniel Utges, the Head of Product and Emiliano Penovi, the Sirius project manager who has been working on the project since it’s inception.
The award, presented as part of The smarter E Europe innovation platform, recognises remarkable achievements and innovations related to securing tomorrow's energy supply. SIRIUS, was recognised by the high-caliber jury of experts for the innovative nature of the software which seamlessly integrates EVs, renewable energy sources, and the grid into a smart energy management system for commercial buildings. Distributed energy resources (DERs), such as solar panels and energy storage, are coordinated and balanced so that the building's electricity needs can be met with the cheapest and most sustainable sources. In a real use case at the company's Headquarters in Barcelona, Wallbox Chargers was able to prove that SIRIUS can offer a huge return on investment while making the building energy consumption more sustainable.
As Wallbox grew it needed to expand it’s HQ by +11,000m2 and +650 workspaces. The building only has access to 173kW of grid power, but Wallbox needed at least +400kW. Rather than upgrading the grid infrastructure which would have cost around 500k€ and 12 months, Wallbox developed SIRIUS.
SIRIUS is Wallbox’s pioneering energy intelligence solution that seamlessly integrates the electric grid with the company’s distributed energy resources (DERs), composed of 400kWp of solar panels, bidirectional EV chargers, 23 Nissan Leaf and 560 kWh stationary batteries. SIRIUS, balances all DERs in real-time to optimize the building’s energy consumption, reduce the company's environmental impact and save money.
SIRIUS, reduced Wallbox’s dependence on the grid by 50%, increased solar consumption by 50% and saved 73 tonnes of CO2, while offering significant cost savings. Wallbox invested 415k€ in SIRIUS vs 500k€ that it would have cost for the transformer retrofit to access more grid power. Additionally Wallbox is saving 85k€ per year on energy bills, meaning a ROI in under 5 years.
It also solves one of the main obstacles of using renewable energy sources - their variability. Through the use of SIRIUS, Wallbox was able to shift from a demand based energy system to a flexible consumption system. This not only allows for a more sustainable use of energy but also lets Wallbox optimize and control its energy consumption and ultimately gain energy independence from the grid.
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 113 countries around the world. Founded in 2015 and headquartered in Barcelona, the company now employs more than 1,250 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “”target,” will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Elyce Behrsin, Head of Global Public Relations, [email protected]