As electric vehicles are becoming increasingly more popular, it leads to a concurrent electricity demand, which can cause congestion on the distribution grid, ultimately requiring grid expansions. Grid expansions are a costly process, which means that it might become restricted, or even impossible in some areas. An insufficient charging network due to high costs is halting the transition to sustainable mobility.
Having identified grid limitation as the major bottleneck for charging infrastructure development, Inbalance has created and innovated their solution from the ground up to be ready for mass EV adoption. The solution consists of a cloud-based, AI-powered dynamic load management technology, which allows Inbalance to build more charging points with less dedicated power, thus avoiding unsustainable and expensive grid upgrades.
Being a cloud and software-based solution means that it is not limited to wiring and/or physical equipment. In practice, Inbalance’s cloud-controlled charger network can fill up EVs only by taking the non-used power from the buildings or the grid itself, and distributing the available power to multiple charging points so that each vehicle is charged at optimal speed.
KEY CUSTOMERS AND INTERNATIONAL PRESENCE
Inbalance targets retail and other chain clients as customers, in order to secure multiple-location deals. They are presently operating 200 charging points across Lithuania, Latvia, and Estonia. Clients for SaaS charging products are other charging point operators, in need to increase their efficiency and shave OPEX.
The founding team consists of Simonas Stankus (CEO), with more than ten years of experience in B2B sales and Management, within the sectors of consulting, pharma, and technology. Nerijus Šiaulys (CTO) has in excess of 10 years of relevant experience in hi-tech greenfield projects as an HW and SW engineer. He has previously run his own business with self-built oil futures trading algorithm. Aurimas Pauga (CIO) has more than 8 years in software development with a proven track record in product management at a major MRO Company.
Unique selling point
The solution allows installing charging stations in locations where there are limited power and scaling capabilities due to insufficient grid limitations. Not only does this mean that Inbalance’s solution is reducing costs and increasing profitability, but it also enables them to enter locations where competitors without such solutions cannot.
Some of the components used in Inbalance’s solution are sourced from Asia. They are currently looking for funding from across the East Asian region.
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