Wallbox and Bidirectional Energy Awarded Funding from the California Energy Commission
Wallbox (NYSE:WBX), a global leader in electric vehicle (EV) charging and energy management solutions, and Bidirectional Energy , a bidirectional EV energy management startup, today announced Phase 1 of their Bidirectional Residential V2X Demonstration Project had been awarded $2.2M in funding from the California Energy Commission ( CEC) REDWDS grant .
- Wallbox (NYSE:WBX), a global leader in electric vehicle (EV) charging and energy management solutions, and Bidirectional Energy , a bidirectional EV energy management startup, today announced Phase 1 of their Bidirectional Residential V2X Demonstration Project had been awarded $2.2M in funding from the California Energy Commission ( CEC) REDWDS grant .
- The project will install and operate Wallbox’s bidirectional charger, Quasar 2, in 120 residential locations across California.
- The bidirectional chargers will be managed by Bidirectional Energy’s virtual power plant (VPP) platform to provide home energy backup, utility bill reduction, and additional financial rewards.
- Bidirectional Energy and Wallbox estimate that Quasar 2 together with the Bidirectional Energy VPP platform can potentially earn users over $1,000* every year when combined with utility Demand Response programs and time-of-use utility rates.