Fermata Energy and Xcel Energy Announce Transformative Vehicle-to-Everything Bidirectional Charging Pilot

Balancing Grid Supply and Demand with Electric Vehicles in Boulder, Colorado

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)-- Fermata Energy, Xcel Energy, City of Boulder, Colorado CarShare and Boulder Housing Partners announced a collaborative Vehicle-to-Everything (V2X) bidirectional charging pilot project at Boulder Housing Partners’ 30 Pearl development and the Molly's Spirits Lakeside facility. This innovative V2X pilot program transforms parked EVs into mobile power units, advancing grid resilience and reducing electric bill costs while supporting underserved communities and local businesses.

Fermata Energy and Xcel Energy's Vehicle-to-Everything (V2X) bidirectional charging pilot project at Boulder Housing Partners’ 30 Pearl development (Photo: Business Wire)

Fermata Energy's intelligent bidirectional charging platform paired with four (4) FE-20 chargers and two (2) of Colorado CarShare’s Nissan LEAFs will showcase V2X and Vehicle-to-Building (V2B) technology's untapped potential. When an electric vehicle is parked and in V2X mode, the Fermata Energy platform leverages the vehicle’s battery energy to offset and lower the building’s peak demand. Fermata Energy’s Demand Charge Management (DCM) software intelligence manages the total system power and energy via charge rate, frequency and depth while intelligently preserving the vehicle's battery health. This technology is designed to optimize customer value by curtailing building peak demand at the same time preserving needed range for the expected electric vehicle duty cycle.

"We're on the cusp of a transformative era in energy management, where electric vehicles transcend their traditional transportation roles to become pivotal in increasing grid resilience and sustainability," Tony Posawatz, CEO of Fermata Energy, stated. "This collaboration with Xcel Energy is more than a project; it's a blueprint for an attainable global renewable energy ecosystem.”

“This program helps deliver the benefits of electric vehicles to all customers in the communities we serve, including those that don’t drive, or drive electric. This project is a proof of concept of bi-directional charging, to assess technology with the potential to enhance customer bill savings,” said Huma Seth, Director of Clean Transportation at Xcel Energy. “We know EVs can help customers save money on their transportation costs and they deliver cleaner air for everyone because they are powered with increasingly clean electricity.”

Beyond these newest deployments, Fermata Energy's V2X impact is notable. Since December 2020, the City of Boulder has leveraged Fermata Energy's V2B technology at the North Boulder Recreation Center, achieving energy cost savings and reinforcing the city's renewable energy and sustainability commitment. The Alliance Center, with Colorado CarShare, launched a V2B project, illuminating electric carsharing and grid technology synergy to address climate change effectively in one of Denver's historic buildings. Fermata Energy also launched a Vehicle-to-Grid (V2G) pilot program for multi-family affordable housing to increase affordable access to EVs for low-income drivers in Boston.

The collaboration between Fermata Energy, Xcel Energy, City of Boulder, Colorado CarShare and Boulder Housing Partners demonstrates a practical application to scale V2X technology deployments within Xcel Energy's service territory, marking a significant step forward in the integration of electric vehicles with the energy grid for enhanced resilience and efficiency.

About Fermata Energy

Fermata Energy is a leading platform services provider of intelligent Vehicle-to-Everything (V2X) bidirectional charging technology, including Vehicle-to-Grid (V2G), Vehicle-to-Home (V2H), and Vehicle-to-Building (V2B) solutions. The company was founded in 2010 to accelerate the adoption of bidirectional energy technology solutions through inspiration and innovation. Fermata Energy’s proprietary technology enables its customers to manage EVs as distributed energy resources by selling excess energy stored in parked EV batteries to offset costly peak demand charges. To learn more about Fermata Energy, please visit https://fermataenergy.com/ and follow the company on LinkedIn.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on X, formerly known as Twitter, and Facebook.

About Colorado CarShare

This collaboration not only showcases cutting-edge technology, but also aligns with Colorado Carshare’s commitment to environmentally sustainable and socially responsible transportation solutions. For more information, visit carshare.org, Facebook, Instagram.

About the City of Boulder

The city’s Climate Initiatives Department drives efforts to slow climate change and build a more resilient community for all, with a focus on energy systems, the circular economy and nature-based climate solutions. Learn more about the City of Boulder.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520170080/en/

Fermata Energy Media Contact:

media@fermataenergy.com

Xcel Energy Media Contact:

mediainquiries@xcelenergy.com

Colorado CarShare Media Contact:

info@carshare.org

City of Boulder Media Contact:

niclil@bouldercolorado.gov

Source: Fermata Energy