IoTecha Corp. Announces Close of Financing Round Led by Elitegroup Computer Systems to Fuel Expansion of Smart EV Charging Platform
PISCATAWAY, N.J., and TAIPEI, Taiwan (PRWEB) June 20, 2018 -- IoTecha Corp. (IoTecha), a provider of advanced Smart Charging solutions for Electric Vehicle (EV) charging, and Elitegroup Computer Systems (ECS), a manufacturer and global supplier of several families of computer products, are proud to announce the completion of a $1.5 million financing round led by ECS.
The funds will be used to meet growing customer demand for IoTecha’s IoT.ON™ platform for smart EV Charging and Cloud-based Charger Monitoring and Vehicle-Grid Integration (VGI) services. Proceeds will also be used to support the US market launch of ECS’ AC Charger; a smart Cloud-Connected Charger based on the global Combined Charging System (CCS) standard and enabled with ISO/IEC 15118 connectivity. A wave of ISO/IEC 15118 enabled vehicles coming to market will require a shift to smart charging. ECS is poised to be among the first to launch a future proofed smart AC charger.
Out of the box integration with IoT.ON™ cloud services will enable device monitoring, enhancing charger availability and resulting in improved user experience with the charger. Additionally, participation in VGI will help users to reduce the overall cost of charger ownership and reduce EV charging costs. The Elite AC Charger is manufactured by ECS and is based on IoTecha’s Combined Charging System on Module (CCSoM) platform. This is another example of the market leading solutions created by the close strategic relationship between ECS and IoTecha.
CEO of IoTecha, Mr. Oleg Logvinov, stated, “We are very proud to work with the team at ECS. Together, we are building a cutting-edge, intelligent AC Charger that is ready for the arrival of millions of vehicles that are powered by CCS and have the ability to integrate with the power grid by leveraging features of the ISO/IEC 15118 standard. This standard enables a world-wide interoperable ecosystem of AC/DC chargers and electric vehicles from motorcycles to cars to buses and trucks. The CCS standard is promoted by the Charging Interface Initiative e.V. (CharIN), a rapidly growing alliance of over 130 companies focused on promoting CCS as the global standard for charging EVs of all types.”
"ECS and IoTecha share the same vision for smart charging and integration of EVs with the grid,” stated ECS Chairman Mrs. W.Y. Lin. “ECS is very pleased to be an investor and partner of IoTecha."
IoTecha products bring important advantages to charging station manufacturers, operators, and owners, including the support of key standards such as ISO/IEC 15118 and Open Charge Point Protocol (OCPP). IoTecha’s Combined Charging System on Module (CCSoM) is a software and hardware platform that shortens time to market, reduces costs and enables the development of a wide range of EV Chargers (EVSE) for private and public use. IoTecha’s IoT.ON™ integrated Cloud platform further reduces cost of ownership of charging stations via proactive monitoring and grid integration capabilities.
For further information, please contact:
Brenda Mancuso
[email protected]
+1 (908) 300-5178
About IoTecha Corp.
IoTecha is accelerating the Electric Vehicle revolution by providing an integrated Platform called IoT.ON™ – consisting of software, hardware and Cloud components - for the Smart Charging infrastructure, and enabling the integration of tens of millions of Electric Vehicles with the Power Grid. Our customers are prominent global manufacturers of both Electric Vehicles and EV charging stations. Our products include V2G and HomePlug Protocol Analyzer, Combined Charging System on Module (and custom modules), and our Cloud-based services. http://www.iotecha.com
About ECS
ECS, Elitegroup Computer Systems, was established in 1987. In recent years, ECS's main focus has expanded from motherboards to All-in-One PCs, notebook computers, Mini PC and other mobile products. ECS is strongly committed to developing cutting-edge technology in order to create innovative products under environmentally friendly designs. ECS's comprehensive quality control system ensures all of ECS products can be counted on for stability and reliability. Visit http://www.ecs.com.tw to learn more.
Ruben Sklar, IoTecha Corp., http://www.iotecha.com, +1 408-831-3704, [email protected]
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