COMPANY

Name: ChargingLedger

Legal Name: ChargingLedger, Inc

Location: New York City, New York

Founded: August 2018

Founder(s): Joachim Lohse

Website: https://www.chargingledger.com/

Social Media: 134 followers on LinkedIn

Industry: Global Electric Vehicle Market

Size: $118,864.5M in 2017 (Source: Allied Market Research)

Future: $567,299.8M by 2025 (Source: Allied Market Research)

Introduction

ChargingLedger, on its website, claims to be the first-ever optimization engine for smart charging Electric vehicles (EVs). It enables efficient usage of power in electricity grids. This software solution automates the optimization of grid usage and can help consumers play a role in reducing power outages and cost of electricity.

The Product

The startup found that peak energy consumption happens between 5 and 7 pm when most electric cars are charged. By using blockchain and various predictive technologies, ChargingLedger helps shift energy loads (such as charging EVs) to less off-peak times to service utilities and businesses. And it is via a decentralized network and smart contracts (via apps), this startup implements managed charging of EVs. 

By choosing flexible charging hours, and signing a smart contract, EV owners get better energy rates from the grid operator. Such smart contracts also help energy plant operators, utilities, grid operators, and consumers work with the supply chain to optimize the electric grid.

This vendor-neutral optimization software also enables the maximization of renewable energy use by scheduling the charging cycles when the most amount of solar, wind, and hydropower is available.

The software just “plugs-in” to the EVSE Network and Charging Point Operators and allows EV owners to schedule and control charging remotely.

Origin and Founding Team

Joachim Lohse completed his Masters in Mechanical Engineering from the University of Erlangen-Nuremberg. He worked as a consultant at PwC before starting out with ChargingLedger. A self-taught cloud system and blockchain expert, he writes on f6S that he developed the first few ChargingLedger software prototypes himself. 

The Founder and CEO mentions in his LinkedIn profile that it is his mission to ‘prepare the electric grid and companies for the 200 million electric vehicles’.

Performance and Trends

ChargingLedge was awarded the AngelHack jury’s prize for its Ethereum-powered smart contract at the AngelHack Paris Hackathon 2018. 
Also, according to Crunchbase, the startup received seed funding from the American seed-stage startup incubator AngelPad in Dec 2018.