Fermata Energy, a vehicle-to-everything (V2X) technology services provider, recently raised $40 million to accelerate the company’s growth with investment from new partners, including funds managed by global investment firm Carlyle and Verizon Ventures.

The company’s V2X software technology aims to transform electric vehicles into energy-storage assets, making EV ownership more cost effective. This technology can help enable a centralized power infrastructure to load balance, transport and store renewable energy through the EV, mobile device and IoT markets, as well as provide customer reliability.

The company’s offerings include bidirectional chargers, a cloud-based management software platform, and a system architecture for harvesting renewable energy and storing it in EVs. This technology can help pave the way for V2X microgrids for EVs, which may be implemented and expanded commercially to meet time-sensitive climate targets.

V2X technology enables electric vehicle (EV) integration with the continued growth in renewable energy into the electric power grid. Fermata Energy’s V2X technology provides energy storage to the power grid to support the transition to renewables and provides revenue generation capabilities for vehicle and fleet owners.

Bidirectional charging technology will become essential as electric vehicles increasingly become a key component to global decarbonization. We are proud to partner with Fermata Energy to accelerate the deployment of its bidirectional offering and believe Carlyle’s broad network and expertise in business development will help jumpstart the company’s growth.

—J.B. Oldenburg, a Managing Director specializing in renewables investing at Carlyle

In July 2021, as part of their participation in the 5G Studio, a collaboration between Verizon and Newlab, Fermata Energy’s V2X energy management software successfully leveraged Verizon’s 5G Ultra Wideband network to react to changes in the grid based on near real-time data and with near-zero latency. Through this partnership, Fermata Energy was connected to Verizon Ventures, the corporate strategic investment arm of Verizon that finds and funds the 5G future.

Fermata Energy’s existing investors include Skyview Ventures, I Squared Capital, and ClearSky.