FILE PHOTO: the logo of French utility company EDF is to be seen in an office in the La defense business district in Courbevoie near Paris, France, on October 12, 2019 at the latest. REUTERS/Regis Duvignau
(Reuters) – French state-controlled energy group EDF has agreed to buy the Pivot Power, a Uk-based start-up company that is specializing in battery, storage, and infrastructure for electric vehicle charging points.
EDF, which did not disclose the financial terms of the acquisition, said the deal would allow it to become a leader in the rapidly growing area of battery storage.
Pivot Power is looking at ways to make the hosting of a battery is to export 50 megawatts (MW) of power, and to offer support to the hundreds of fast electric car chargers that can be appropriate for a large, retail sites, logistics centers, and bus depots.
The acquisition of the Change of Power also, in EDF’s acquisition in September by the AMERICAN electric vehicle technology company Torque Systems.
Reporting by Sudip Kar-Gupta; editing by Louise Heavens