Moixa announced today it has been acquired by newly launched Lunar Energy, a US-based company with a mission to electrify the home and provide energy independence to millions worldwide. Lunar will leverage and scale Moixa’s GridShare software to manage batteries across Europe, Japan, the US and beyond. Through Lunar, GridShare software will supply a wider range of solutions to electrify homes.
To enable Lunar to deliver on its mission, the company raised US$300 million in funding over two rounds led by South Korea’s SK Group and Sunrun. The capital raised has been used to acquire Moixa, hire and invest in product development and manufacturing activities in order to bring Lunar’s first hardware product to market later this year.
Today, GridShare software is deployed at scale across 35,000 homes (330MWh of batteries) via ITOCHU in Japan. It also supports advanced smart charging services for Honda electric vehicles, flexibility services for UK distribution network operators, and depot smart charging with UPS in the UK. Initially working with Western Power Distribution from 2019 through to 2020, GridShare software was used in the first pilot scheme of residential energy storage and software to optimise and aggregate batteries into virtual power plants. Currently, in official partnership with UK Power Networks (UKPN), GridShare software is providing energy capacity to distribution networks from home energy storage until 2025.
Kunal Girotra, Founder and CEO of Lunar Energy, “The Moixa team has pioneered and developed innovative energy optimisation algorithms over the last 15 years that remain unparalleled. Moixa’s GridShare software is currently managing one of the largest fleets of home batteries in the world, paving the way for virtual power plants and providing peak power and other services to the grid. Lunar Energy’s hardware, paired with GridShare software for smart charging, fleet management and optimisation, will provide a complete offering to our customers and help us deliver on our mission.”