e-mopeds
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Revel turns to software to keep its e-moped fleet powered without straining NYC’s grid
Revel is turning to an app that gamifies energy use to keep its fleet of more than 3,000 electric mopeds charged without putting a strain on New York City’s power grid.
Electricity is the key ingredient for the Brooklyn-based startup, which has more recently expanded beyond shared electric mopeds and into e-bike subscriptions, fast-charging infrastructure and even an all EV ride-hailing service. It’s not just about accessing power; managing when that power is tapped will be essential for Revel to keep its operational costs as low as possible.
That’s where Logical Buildings comes in. The software company has developed GridRewards, an app that helps customers lower their monthly energy consumption and earn cash rewards in the process. The app’s “virtual power plant” software will help Revel dynamically adjust the charging schedule of its fleet to support NYC’s electrical grid resilience, according to a statement from the companies.
“As we continue to expand our electric mobility products, we plan to be an asset to the grid rather than a liability,” said Paul Suhey, Revel COO & co-founder, in a statement. “Our EV infrastructure and charging operations can play a major role in helping NYC transition to a cleaner electric grid.”
EV adoption and shared micromobility services are on the rise, so many industry players are finding ways to transfer energy between batteries and the grid. EV battery swapping company Ample says its swapping stations can be used to generate backup power in case of an emergency, and even Ford’s new pickup truck, the F-150 Lighting, can power your home in the event of an outage.
In Revel’s case, the company hopes to provide services to the grid like “demand response” operations, where charging stations shed a load when needed in order to provide immediate relief to the grid, something the company just did in NYC. During the heat wave of the week of June 28, the mobility company adjusted its fleet charging schedule to avoid peak demand times.
Revel says avoiding peak demand times also helps to create a cleaner grid because when energy is in high demand, the sources of power generation emit twice as much carbon dioxide per unit of electricity and 20 times as much nitrogen oxides.
Revel also owns a fleet of Teslas for an all-EV ridehailing service that has had to halt its services due to a cap placed on new for-hire vehicles in the city. But at present, the company will only be implementing this technology with its e-mopeds.
“As transportation electrifies, it is imperative that electric mobility companies schedule their charging operations to promote grid resiliency,” said David Klatt, Logical Buildings’ VP of operations, in a statement. “Revel is taking necessary steps to ensure it is a leader in intelligent charging operations, paving the way for the smooth electrification and decarbonization of NYC.”
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Micromobility startup Helbiz to go public via a SPAC, and will expand into ghost kitchens
Micromobility startup Helbiz, which now operates across Europe and the USA, is merging with a special purpose acquisition company (SPAC) to become a publicly listed company, giving it a war chest to potentially roll-up smaller competitors in the space, as well as the resources to expand into “cloud” or “ghost” kitchens as part of a move into food delivery.
Helbiz intends to merge with GreenVision Acquisition Corp. (Nasdaq: GRNV) in the second quarter of 2021. The combined entity will be named Helbiz Inc. and will be listed on the Nasdaq Capital Market under the new ticker symbol, “HLBZ.”
The transaction includes $30 million PIPE anchored by institutional investors and approximately $80 million in net proceeds will be fed into Helbiz’s micromobility and advertising businesses, which have 2.7 million users.
Helbiz says the merged entity will have a valuation of $408 million, and by run Helbiz’s existing management under CEO Salvatore Palella.
Palella said: “Through this transaction, we’re committed to fulfilling our vision in revolutionizing transport by using micromobility to become a seamless last-mile solution.”
He further revealed to me that the company plans to establish “ghost kitchens” in Milan and Washington, DC later this year, with the aim of introducing a five-minute delivery time.
Helbiz has tried to differentiate itself from other players like Lime and Bird by offering e-scooters, e-bicycles and e-mopeds all on one platform.
Key to Helbiz’s offering is an integrated geofencing platform that tends to appeal to city authorities who don’t want scooters left in random places, as well as a swappable battery that enables easier charging of the devices. Its subscription service allows users to take unlimited 30-minute trips on its e-bikes and e-scooters every month.
In Europe the company currently operates a fleet of e-scooters and e-bicycles in Milan, Turin, Verona, Rome, Madrid and Belgrade, and in the U.S. it operates in Washington, DC, Alexandria, Arlington and Miami.
David Fu, chairman, and CEO of GreenVision, commented: “Helbiz has distinguished itself as the only company to offer e-scooters, e-bicycles, and e-mopeds all on one user-friendly platform… Helbiz has a proven and capital-light business model that combines hardware, software, and services with extensive customer relationships.”
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Movo grabs $22.5M to get more cities in LatAm scooting
Madrid-based micromobility startup Movo has closed a €20 million (~$22.5M) Series A funding round to accelerate international expansion.
The 2017-founded Spanish startup targets cities in its home market and in markets across LatAm, offering last-mile mobility via rentable electric scooters (e-mopeds and e-scooters) plotted on an app map. It’s a subsidiary of local ride-hailing firm Cabify, which provided the seed funding for the startup.
Movo’s Series A round is led by two new investors: Insurance firm Mutua Madrileña, doubtless spying strategic investment potential in helping diversify its business by growing the market for humans to scoot around cities on two wheels — and VC fund Seaya Ventures, an early investor in Cabify.
Both Mutua Madrileña and Seaya Ventures are now taking a seat on Movo’s board.
Commenting on the Series A in a statement, Javier Mira, general director of Mutua Madrileña, said: “The equity investment in Movo reflects Mutua Madrileña’s aspiration to respond to the new mobility needs that are emerging, and to the economic and social changes that are occurring and that are transforming our life habits.”
Movo currently operates in six cities across five countries — Spain, México, Colombia, Perú and Chile.
It first launched an e-moped service in Madrid a year ago, according to a spokeswoman, and has since expanded domestic operations to the southern Spanish coastal city of Malaga, as well as riding into Latin America.
The new funding is mostly pegged for further international expansion, with a plan to expand into new markets in LatAm, including Argentina, Brazil and Uruguay. Movo is targeting operating in a total of 10 countries by the end of 2019.
The Series A will also be used to grow its vehicle fleet in existing markets, it said.
“We are very excited to be able to offer a solution to the problems of mobility in cities, particularly for short distances in areas with high population density,” said CEO Pedro Rivas in a statement. “We are committed to working together with governments to complement mass public transport with these new micromobility alternatives, so that people can get around in a more sustainable and efficient way.”
Commenting on its investment in the Cabify subsidiary, Seaya Ventures’ Beatriz Gonzalez, founder and managing partner, said the fund is “committed to the evolution of mobility towards sustainable alternatives in the world’s major cities.”
“We want to be part of the transport revolution by promoting projects like Cabify and, of course, Movo,” she said in a statement, which seeks to paint micromobility as a solution for urban congestion and poor air quality. “We are motivated to continue to promote companies with which we share this sense of responsibility towards the development and improvement of people’s quality of life.”
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