A million euro grant from EU Horizon2020 places the Danish company Nerve Smart Systems at the forefront of fast-charging electric vehicles. The company is about to launch the first version of a new type of battery high power charger. The solution is based on a battery system which enables a charge which is significantly faster without overloading the power grid.
The groundbreaking Nerve Switch® battery solution allows an electric car to get charged in less than 10 minutes via a 350 kW high power charging station connected to the energy grid with a regular connection.
The patent pending Nerve Switch® battery solution acts as a buffer between the grid and the charger. This yields sufficient power for quick charging of electric vehicles, no matter what the capacity of the grid is. With the battery as a buffer, you can avoid the very powerful, expensive connections to the grid, which existing solutions require.
This new Danish technology cuts a significant amount of both the installation and operating costs, making the solution very interesting for service stations, logistics centers, shopping malls, hotels, airports and other service providers wishing to offer their customers a quick charge of their electric vehicles.
“Most people talk about the range of electric vehicles, but in fact it’s the charging time that should worry future car owners when choosing between an electric and a conventional car. Towards 2020, the charger market is expected to grow by 30 percent annually, and by 2030, 30 percent of the European car fleet will consist of electric vehicles. It provides a great perspective for our solution because it both ensures fast charging for the car owners and solves the capacity problems on the power grid, which occur when more and more people are charging,” says Jesper Boie Rasmussen, CEO of Nerve Smart Systems.
If the rapidly increasing number of charging stations tap electricity directly from the network an expansion would become necessary and it would cost billions of euro. Some parts of Norway, which has the world’s largest number of electric vehicles in relation to the number of inhabitants, is struggling with this problem. Every day at 17 o’clock, the power grid is overloaded because everyone is charging their cars and starting the stove and electronics in the households at the same time.
“With the Nerve Switch® battery solution, we can solve this problem in a smart and economical way,” says Jesper Boie Rasmussen.
As one of a few Danish innovation projects, Nerve Switch® has received a 2,4 million Euro grant from the EU Horizon2020 program. This support enables Nerve Smart Systems become a key player in the market for high-power battery solutions – a market expected to increase by 30-35 percent a year. Nerve Smart System has raised a total of 5,5 million Euro for the development of Nerve Switch® and is now looking for Phase 2 investors, to help finance the production of the patent-pending Nerve Switch® battery solution.