Fermata Energy Announces Strategic Investment from TEPCO Ventures
Fermata Energy has announced a $2.5 million strategic investment from TEPCO Ventures, the investment arm of Tokyo Electric Power Company Holdings, Inc. Fermata Energy’s bi-directional chargers enable electric vehicle batteries to provide energy storage to the power grid–reducing power loads during peak times and consequently reducing electricity costs. TEPCO Venture’s mission is to co-create the future of utilities. It invests in technologies that incentivize increased electric vehicle adoption, further utility decentralization, reduce the cost of energy storage, improve the digital grid, and other leading-edge technologies. Read more here.