evHACS, the Irish company working on creating electric car charging units combined with building heating and cooling systems, has announced a successful €1 million 'seed investment' round.
Three into one
The idea behind evHACS is that it combines three of the most important current considerations - charging, heating, and cooling - into one unit. Why is that a good thing? Because according to evHACS, it means that you get: "easier access to EV charging via the enormous air conditioning network." There are other benefits, too, including sharing the installation costs across three systems, lower running costs thanks to greater efficiency, dynamic power consumption management, and allowing for the excess energy in an EV's battery to be used directly to power heat pumps and air conditioning systems at peak electricity demand times.
Encouraging EV and heat pump demand
Obviously, the biggest benefit is that ultimately making these systems easier to install and control hopefully encourages the take-up of EVs and heat pumps at the same time, leading to general CO2 reductions.
evHACS (short for electric vehicle heat pump air conditioning charging system) said that in spite of a relatively brief time frame for the investment round, it secured all the funding it was looking for: "highlighting the interest in this unique business."
First deliveries later this year
evHACS is working with Mitsubishi Electric (no relation to the car company, at least not directly) on developing the combined units and hopes to have the first deliveries rolling out by the end of this year.
Jeff Aherne, CEO, evHACS said: "The investment support is a huge boost for us, for various reasons, it shows the confidence the market has in the delivery of our product and it also creates a deeper pool of resources, expertise and know-how from which we can draw in the coming months. We're delighted to welcome our investors onboard as we push for delivery of our product in Ireland in the fourth quarter."