Electric Era, a Seattle-based startup focused on electric vehicle (EV) charging, has introduced the CoPower Platform, a new energy storage solution tailored for data centers. This platform integrates large batteries with proprietary software originally designed for managing EV charging stations, facilitating efficient energy management amid fluctuating demand.
The CoPower system, which utilizes batteries from LG Energy Solution, is modular, starting at 2.5 megawatts and scalable to over 100 megawatts. Electric Era can deploy these installations within 12 to 18 months, a significant reduction compared to the typical five-year timeline for conventional utility upgrades. The company aims to address the growing energy demands of data centers, which often face challenges due to limited grid capacity and lengthy interconnection processes.
CEO Quincy Lee highlighted that the platform enables data centers to increase their capacity and meet customer demands, thus unlocking potential revenue growth. Electric Era collaborates with McKinstry and other firms for project development and has secured a non-binding term sheet with Macquarie Asset Management for potential financing.
Since its inception in 2019, Electric Era has raised $30 million in funding and received $48 million in government grants for EV charging stations. The company also recently secured $5.05 million from the National Electric Vehicle Infrastructure (NEVI) Program for additional installations.