Wallbox And Bidirectional Energy Awarded Funding Of $2.2M From The California Energy Commission
Portfolio Pulse from Benzinga Newsdesk
Wallbox (NYSE:WBX) and Bidirectional Energy have been awarded $2.2M by the California Energy Commission for a project involving the installation of Wallbox's Quasar 2 bidirectional chargers in 120 California homes. These chargers, managed by Bidirectional Energy's VPP platform, aim to provide energy backup, reduce utility bills, and offer financial rewards by leveraging vehicle-to-grid technology. The project supports California's clean energy goals and the transition to renewable energy, with potential savings for users exceeding $1,000 annually.
March 21, 2024 | 12:33 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Wallbox, a leader in EV charging solutions, partners with Bidirectional Energy on a $2.2M project funded by the California Energy Commission to install Quasar 2 bidirectional chargers in California homes, potentially saving users over $1,000 annually.
The funding and project highlight Wallbox's innovation in EV charging technology and its potential for market expansion and revenue growth. The project's success could enhance Wallbox's reputation and market share in the EV charging sector, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100