SWTCH Energy, a leading provider of electric vehicle (EV) charging solutions, announced it has secured a strategic $4 million investment from Constellation Technology Ventures (CTV). This funding expands SWTCH’s Series B funding to $31.2 million, building on the momentum of its initial $27.2 million raise.
CTV is the venture investing organization within Constellation, which is the nation’s largest producer of reliable, emissions-free energy and a leading energy supplier to businesses, homes, and public sector customers nationwide.
Along with CTV’s investment, SWTCH will work with Constellation to deliver comprehensive EV charging installation and management solutions across the commercial, industrial, multi-family, hospitality, and small-to-medium-sized business sectors. Through this relationship, Constellation’s customers will gain access to scalable, flexible EV charging options that enhance sustainability and energy efficiency.
Since SWTCH’s launch in 2016, it has been at the forefront of developing intelligent solutions that optimize charging efficiency and facilitate charger management for property owners. And the agreement with Constellation builds on SWTCH’s recent announcement of SWTCH Cortex, a scalable, intelligent, and affordable solution that simplifies installation and management, enabling commercial and multifamily properties to meet the growing demand for EV charging at work and home. Plus, SWTCH was recently selected by Greystar, the largest operator of apartments in the U.S., to manage 2,500 charging stations across 136 Greystar properties in Washington state.
How this funding will be used: This investment will accelerate SWTCH’s innovation in AI-driven network monitoring, load management and the continued development of its advanced charging solution, SWTCH Cortex.
KEY QUOTES:
“Working with Constellation amplifies our ability to expand EV charging access for multifamily, commercial, and workplace properties while also improving the reliability of charging infrastructure. We remain committed to advancing our differentiated load management technology, ensuring seamless integration of EV charging into the electrical grid and energy markets.”
Carter Li, CEO of SWTCH
“SWTCH’s approach to managed charging and load flexibility aligns well with our commitment to provide innovative, cost-effective energy solutions to our customers. They are well-positioned to advance sustainable, scalable solutions for businesses and communities and we’re excited to support their continued growth.”
Dan Verbanac, senior vice president of Power, Mass Markets, and Solution Sales, Constellation
