Our Story
Get to know us
We are a blockchain technology company focused on the growing EV industry. We provide solutions for developers, enterprises, automotive companies, and government organizations.
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Our mission is to support the development of the Charge protocol by building next-generation applications designed to simplify the overall EV charging experience and process.
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Charge Labs is the official commercial arm and founding entity of the Charge protocol.
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Shift in Transportation
In recent years, the automotive industry has experienced a surge of innovation and technological advancements. Not only in terms of new vehicle capabilities and ownership, but shifts in transportation habits and mobility. Continued developments in artificial intelligence (AI) and the Internet of Things (IoT) are quickly changing the definition of an “automobile”.
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The most noticeable change is the transition to electric vehicles (EV). This has ignited a sudden growth and need for a charging infrastructure that can support the electrification of customer and fleet vehicles. As a result, the global market size of the EV charging industry is expected to reach $221.9 billion by 2030.
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However, significant obstacles are hindering this infrastructure to grow and scale efficiently. These include:
Charger Availability
Consumer Access
Payment Systems
Power Generation
Grid Capacity
In addition, there are currently multiple independent EV charging networks that operate as a closed ecosystem, further complicating the EV charging process.
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Emerging Trends
Current EV charging solutions resemble a fuel pump, which connects directly to a consumer’s vehicle. As we look to the future and examine trends, there are significant advancements and emerging ideas in technology that are not yet well known to the general public.
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Wireless Charging
Through inductive charging, electricity is transferred wirelessly with minimum energy loss. The electricity is transferred from a magnetic coil in the charging device to another coil attached to the EV battery.
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Alternative Energy Storage Solutions
Combination of either large batteries, renewable energy, or grid access during non-peak hours can help reduce the demand on the electric grid. However, this is not enough to handle the forecasted number of EVs on the road this next decade.
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Electric Vehicles
Automakers are also beginning to participate in the energy economy more broadly. New electric vehicles are equipped with bidirectional charging capabilities that can take on the role of an energy storage provider. Under ISO-15118, bidirectional charging can enable the flow of energy from the grid to the battery of an EV, and back from the battery to the grid. This can significantly relieve current pressures on the grid.
Our Vision
Our purpose is to simplify the overall EV charging experience. At Charge Labs, we strive to combine emerging ideas and innovations with applicable solutions designed for tomorrow's infrastructure.
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We are committed to developing a charging network that utilizes blockchain technology to solve issues related to grid pressures and energy demands. EV charging will become an increasingly essential asset to ensure the functionality of our economy and society. As we move closer towards Web3, critical infrastructure must follow suit
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In order to effectively implement this transformation, we must lay the foundation for an infrastructure that efficiently utilizes energy to prevent problems and scarcities experienced in the past. We must consider the impact of our changing transportation habits and prepare for our future energy needs.
The future of transportation and mobility will be electrification, and the technology supporting this transition must provide data security, scalability, and user privacy.
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The Protocol
Charge protocol is composed of a network of decentralized, charging devices that enable electric vehicles to securely connect and communicate to charging devices.
It is designed to be a universal system where users pay energy providers directly through a peer-to-peer, trustless blockchain that interoperates with existing and future EV charging solutions.
The protocol incorporates established charging guidelines and standards, but further builds upon these notions to create an infrastructure that ensures a seamless, secure, and efficient transfer of electricity while maintaining user privacy.
How It Works
Scenario of Future Applications
Imagine an EV driver that charges his or her vehicle at night when electricity costs are low. As demand rises during the day, this consumer can then sell electricity back to the grid. As the price of electricity rises throughout the day, this presents an opportunity for arbitrage that can incentivize EV drivers to charge at home during off-peak hours and supply electricity at a local level in return for a profit. The electricity returned to the grid can then be used at homes, businesses, or even by other drivers.
As EV chargers continue to improve and the associated technology becomes efficient, not only could the functionality of a charger change but consumers may also play an active role supporting the supply and demand of electricity, potentially creating a secondary energy market. Though we are still years away from this type of infrastructure, this is a potential opportunity to reduce the demands on our current grid while creating new incentives for consumers.
In order for this to happen though, a secure network must be in place that can seamlessly transact and communicate between vehicles and electric providers.