Phoenix Motorcars & Fermata Energy Form Partnership for V2X Bidirectional Charging

Phoenix Motor Inc. (Nasdaq: PEV), a frontrunner in the production of all-electric, medium-duty vehicles, has recently announced a crucial Equipment Testing Agreement with Fermata Energy LLC. Fermata Energy stands out as a top-tier provider of Vehicle-to-Everything (V2X) bidirectional charging platforms. These state-of-the-art platforms empower EVs, transforming them into mobile energy storage assets. They have the capability to channel the energy stored in EV batteries to either a local grid or a building, precisely when it’s most needed. This innovative technology adds a new layer of support to grid resilience while also encompassing vehicle-to-grid (V2G) and vehicle-to-building (V2B) projects.

Under the agreement, Fermata Energy is set to integrate its V2X bidirectional chargers and artificial intelligence (AI) centric software platform with Phoenix Motor Inc.’s zero emission drive systems. This strategic alliance will enable Phoenix’s customers to harness the benefits of the bidirectional charging platform. Notably, when their vehicles are not in use, Phoenix’s customers will have the opportunity to generate revenue either through their local utility in a Vehicle-to-Grid (V2G) framework or circumvent expensive peak demand charges by transferring energy to their building in a Vehicle-to-Building (V2B) scenario. This initiative marks a significant step in optimizing the utility of electric vehicles beyond transportation, revolutionizing their role as active participants in energy ecosystems.

Phoenix Motorcars CEO Dr. Lance Zhou commented, “V2X is the next logical step in the evolution of our medium duty platform. Fermata Energy has proven to be the leader in this technology and offers the skills and the expertise to implement V2X capability as a viable solution for our customers and fleets. We are proud to be partnering with Fermata Energy to provide this technology to our customers.”

“V2X bidirectional charging unlocks the value in EV batteries. Partnering with Phoenix Motorcar adds a new class of vehicles to our bidirectional charging portfolio and extends the opportunities for fleet owners and operators to earn revenue without impacting vehicle utilization. We are pleased to partner with Phoenix Motorcars to bring new opportunities to their customers to earn revenue while their vehicles are parked and support grid resilience,” said David Slutzky, founder and CEO of Fermata Energy.

Phoenix Motor Inc. is a trailblazer in the electric vehicle (EV) industry, known for its innovation in the design, assembly, and integration of electric drive systems. Catering to both commercial and residential markets, Phoenix also offers electric forklifts and vehicle chargers. The company’s noteworthy product line includes an assortment of commercial, medium-duty EVs such as shuttle buses, school buses, municipal transit vehicles, and delivery trucks. Phoenix markets these vehicles under its renowned “Phoenix Motorcars” brand. The vehicles have proven their robust performance by driving more than 4 million zero-emission miles on the road, showcasing Phoenix’s commitment to creating sustainable transport solutions that significantly reduce carbon footprint.

Fermata Energy’s unique vehicle-to-everything (V2X) software and bidirectional hardware technology effectively transforms electric vehicles into dynamic energy storage assets. This groundbreaking approach allows electric vehicles to play a proactive role in combating climate change by harvesting and storing renewable energy when available, and feeding it back into the grid when needed, thus promoting a cleaner and more sustainable energy landscape. Furthermore, Fermata Energy’s technology boosts energy resilience by providing an additional layer of energy capacity and security, ensuring uninterrupted power supply during grid outages or periods of high demand. By enabling energy to be bought, stored, and sold back to the grid strategically, Fermata Energy’s bidirectional technology also aids in reducing energy costs, fostering an economically viable transition to a zero-emission future.