E.ON acquires e-mobility startup Elvah

The Essen-based energy company E.On has announced the acquisition of the e-mobility startup Elvah, which is set to take place on June 30th. Founded in 2020, the company helps drivers find reliable and cost-effective charging options through an app. The company aims to accelerate the mobility transition in Germany and enhance the attractiveness of electromobility through customer-friendly processes and ease of use, according to the corporation.

“The transport sector offers enormous decarbonization potential that we must utilize to achieve the Paris climate goals. To make individual mobility more sustainable, it is crucial to intelligently integrate electric vehicles into the energy system so that they can provide additional flexibility as potential storage in the decentralized energy system. Smart solutions like Elvah optimally complement E.On’s technology strategy and significantly improve the charging experience for our customers,” says Victoria Ossadnik, E.On Board Member responsible for Digitalization and Innovation.

Gowrynath Sivaganeshamoorthy, CEO and co-founder of Elvah, hopes to further develop the platform in the new constellation and make charging e-cars even easier and more reliable. The technology and app developed by the startup offer customers user-friendly access to over 300,000 charging points in 40 countries. The application generates a points rating from real-time data and customer feedback on the charging process, which informs users about the reliability and comfort of the charging stations. Based on this data, the charging process is to be simplified, and access to electromobility is to be facilitated.

Sensible Addition to the Electromobility Strategy

For the people of Essen, the acquisition is another step towards a universal offering portfolio in the field of electromobility. The technology will first be implemented into E.On Drive’s charging product and thus made available to customers across Europe. The app will become part of E.ON One.

“With Elvah, E.On One is expanding its ecosystem with a new, state-of-the-art digital solution that will further advance the e-mobility business,” believes E.On One CEO Tim van Amstel.

The subsidiary, founded in 2022, unites digital solutions to implement the energy transition. After its own implementation, they want to further expand the system based on a new business model and make it “available to the market,” van Amstel continues. Under the umbrella of E.On One, Elvah will continue to operate independently in the market with its previous management.