Parkkisähkö Oy (Parking Energy)
The Electric Vehicle (EV) market is expected to grow rapidly over the next 20-30 years. Parking Energy provides massively scalable EV charging services for real estate market, commercial and residential buildings and car park operators to enable it.
Parking Energy Ltd was founded in 2014 to focus on Electric Vehicle (EV) charging in the real estate market. The reasoning behind the business idea is the fact that Electric Vehicles are likely to replace Internal Combustion Engine vehicles in a disruptive fashion, and charging them will provide a major opportunity. The motivation to focus on real estate, covering any large parking areas related to office space, apartment buildings, transport parking such as airports, and park & ride areas is based on the fact that the most logical way to charge EVs is when they are parked overnight or at work, just like mobile phones are charged.
Parking Energy is based in Helsinki, Finland and Reading, UK and currently employs 20 people. Our management team has a long experience with EVs, energy, battery technologies, software engineering, and telecoms.
Parking Energy estimated in 2014 that EVs will reach up to a 15% market share of all cars on the road by 2025. This is currently supported by some major industry analysts. Approximately half of the people live in apartment buildings or work at office buildings, so it is obvious that charging EVs would typically happen in those environments. Due to the EV market share growth initially being concentrated in specific areas, such as wealthier areas in cities, the demand for EV charging in the real estate environment is becoming a must, and it is happening ahead of the EV market share curve.
Parking Energy developed its product from 2014 to 2016, with first trials starting in late 2016, and the first commercial installation was implemented in the EuroPark garages in Helsinki in early 2017. EuroPark is the second largest parking operator in Finland, and Parking Energy covers all its garages in Helsinki city center, starting with 6 parking spaces each initially.
The next major step was the installation of the Parking Energy scalable Quick Connector based system into Varma Mutual Pension Insurance Company’s headquarters in Helsinki during summer 2017, as one of the largest EV-ready sites in the world. This installation also proved Parking Energy’s claim of the “fraction of investment and still better service” claim. The total cost of this system, covering 238 parking spaces, was just 90 000 €, or less than 400 € per parking space. This installation was overengineered and included 7 new electrical boards, cabling, cable ways, installation mechanics, and Quick Connectors which allow the charging stations to be installed by demand without any further electrical work in a minute.
After these first major cases, there has been a strong increase in the Parking Energy sales, with more than a 10% increase in the number of users per month, and an even faster growth in the energy sales and use. Parking Energy has won most tenders it has participated in, and existing customers such as Varma and EuroPark have started a rollout to other properties. The first Quick Connector system was installed in an apartment building during early 2018, and further projects are on the way.
In 2018, Parking Energy is growing its geographical footprint by expanding to UK, Germany, Scandinavia, the Netherlands, and Spain. The first sites will be implemented in 2018, and Parking Energy is in the process of building partner networks worldwide. Several sites are a part of a Europe-wide EU-financed project.