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Phoenix Motor Inc. (Nasdaq: PEV) (“Company” or “Phoenix”), a leader in manufacturing of all-electric, medium-duty vehicles, announced the signing of an Equipment Testing Agreement with Fermata Energy LLC, a leading provider of V2X (vehicle-to-everything) bidirectional charging platforms. The Fermata Energy platform allows EVs to be utilized as mobile energy storage assets to send energy stored in EV batteries to the local grid or to a building when it is needed most, all while supporting grid resilience. V2X includes vehicle-to-grid (V2G) and vehicle-to-building (V2B) projects.
Under the agreement, Fermata Energy will pair its V2X bidirectional chargers and AI-driven software platform with Phoenix’s zero emission drive system. With the bidirectional charging platform, Phoenix’s customers with zero emission drive systems can earn revenue while their vehicles are parked either from their local utility (V2G) or avoid costly peak demand charges by sending energy to their building (V2B).
Phoenix Motorcars CEO Dr. Lance Zhou commented, “V2X is the next logical step in the evolution of our medium duty platform. Fermata Energy has proven to be the leader in this technology and offers the skills and the expertise to implement V2X capability as a viable solution for our customers and fleets. We are proud to be partnering with Fermata Energy to provide this technology to our customers.”
“V2X bidirectional charging unlocks the value in EV batteries. Partnering with Phoenix Motorcar adds a new class of vehicles to our bidirectional charging portfolio and extends the opportunities for fleet owners and operators to earn revenue without impacting vehicle utilization. We are pleased to partner with Phoenix Motorcars to bring new opportunities to their customers to earn revenue while their vehicles are parked and support grid resilience,” said David Slutzky, founder and CEO of Fermata Energy.
About Phoenix Motor Inc.
Phoenix Motor Inc., a pioneer in the electric vehicle (“EV”) industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix markets its commercial, medium duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others) under its “Phoenix Motorcars” brand and its vehicles have driven more than 4 million zero-emission miles on the road. Phoenix intends to bring its “EdisonFuture” band of light-duty EV trucks for the consumer and commercial segments to market within the next few years, which is its. For more information, please visit: www.phoenixmotorcars.com .
About Fermata Energy
Fermata Energy’s proprietary vehicle-to-everything (V2X) software and bidirectional hardware technology turns EVs into energy storage assets and makes it possible for EVs to combat climate change, increase energy resilience, and reduce energy costs. For more information, visit www.fermataenergy.com .
