Leap and SWTCH Energy Launch New Virtual Power Plant Solutions for Multi-Tenant EV Charging Infrastructure
New partnership will scale innovative grid flexibility solutions to underserved multifamily property market
SAN FRANCISCO, CA and TORONTO – May 30, 2024 – Leap, the leading virtual power plant (VPP) platform, and SWTCH Energy (SWTCH), a company pioneering electric vehicle (EV) charging solutions for multi-tenant buildings across North America, today announced a partnership to deploy VPPs in New York and Massachusetts. Through Leap’s automated, software-only solution, SWTCH will integrate its EV charging network into new demand response and other grid services revenue streams.
“For too long, multifamily properties have been underserved by new energy technologies such as smart EV charging and VPPs, which is why we are so thrilled to partner with SWTCH,” said Jason Michaels, Chief Revenue Officer at Leap. “Together we can put our best-in-class technology solutions to work at addressing this gap in the market.”
VPPs offer numerous benefits, helping to offset rising electricity costs while lowering carbon emissions and improving local grid reliability. Leveraging SWTCH’s customer network, which includes multifamily and commercial buildings, the partnership will extend these benefits to a wider array of energy consumers.
“In collaboration with Leap, we’re tapping into the incredible potential of multi-tenant EV chargers to serve as paid flexible resources for the grid,” said Samuel Bordenave, CFO at SWTCH. “Our new Leap-powered VPP offerings advance our commitment to providing affordable charging for tenants and helping our real estate customers maximize the value of their EV infrastructure.”
Leap has experienced tremendous growth over the past few years fueled by the proliferation of EVs and other distributed energy resources across the country. Earlier this year, Leap announced new platform upgrades that leverage automation to empower technology companies to grow their VPP customer revenue 3x faster. SWTCH recently announced $27.2M in Series B Funding to scale its charger deployments across North America and advance its market-leading EV charging solutions, including SWTCH Control.
###
About Leap
Leap is the leading platform for generating new value from distributed energy resources (DERs) through integration with energy markets. Through its software-only solution, Leap facilitates fast, easy and automated access to high-value grid services revenue streams for the providers of batteries, electric vehicle charging, smart thermostats, HVAC systems and other flexible assets. By aggregating the DERs enrolled on its platform, Leap supplies virtual power plants (VPPs) to balance the grid. Leap enables its partners and their customers to unlock new value streams and help create a more flexible, resilient grid powered by renewable resources.
About SWTCH
Headquartered in Toronto, Ontario, with offices in Brooklyn and Boston, SWTCH is pioneering EV charging solutions for multifamily, commercial, and workplace properties across North America. SWTCH leverages the latest technology available to help building owners and operators deploy EV charging by tapping into their existing grid infrastructure. Through constant innovation and an extensive partnership network, SWTCH provides the most profitable and unique business model for multi-tenant buildings to stay competitive.
Contact
Caroline Thompson
Marketing Manager
caroline@leap.energy
Chelsea Nolan
Antenna Group for SWTCH
swtch@antennagroup.com
