Harnessing EV Power as Energy Source with Tether

Luis Medina Rivas is the co-founder and CEO of Tether, steering the company's mission in sustainable energy innovation. With an engineering background in clean tech, he aims to convert EV batteries into virtual power plants for a swift sustainability shift. 

Available on:

• Advantages of using EV batteries for grid stability
• Target customer segments
• Integration with existing infrastructure
• Challenges for Tether and the EV industry
• Role of EVs in renewable energy
• Emerging technologies and trends

Luis, Co-founder and CEO of Tether

Luis is the co-founder and CEO of Tether, a company dedicated to integrating electric vehicles (EVs) with the power grid to enhance stability and efficiency. With a background in renewable energy engineering and experience in the power sector and at General Electric, Luis has focused on the potential of EVs to support the energy transition.

Statzon: Welcome, Luis. Can you introduce yourself to our listeners?

Luis: Sure. I’m Luis, co-founder and CEO of Tether. My journey started in the power sector, moving from a power grid operator to General Electric, where I worked on gas turbines and solar installations. During my master's in renewable energy engineering, I saw the potential of EVs as a critical piece in the green transition puzzle, leading to the creation of Tether.

Statzon: What is Tether working on regarding EV integration with the power grid?

Luis: Tether connects parked EVs to the power grid, transforming them into a massive virtual battery. Our software coordinates when EVs charge, stabilizing the grid and reducing the need for new power plants. This approach leverages the fact that cars are parked 95% of the time, making them ideal for grid support.

Statzon: How does Tether’s solution stand out in the market?

Luis: We focus on private EV owners rather than fleets. Managing individual users is complex due to their varied schedules. Our machine learning algorithms optimize charging times across many users, providing grid flexibility without affecting user experience. This approach differs from others targeting fleet operations, which are easier to manage but less impactful on a large scale.

Statzon: What customer segments does Tether serve?

Luis: We target charge point operators, e-mobility service providers, and vehicle OEMs, offering our solution as a white-label product. This allows users to integrate smart charging features into their existing apps, providing seamless and efficient charging management.

Statzon: What are the regulatory challenges Tether faces?

Luis: The regulatory landscape varies across the EU. Some countries have favorable regulations, while others are more restrictive. We start in the Nordics due to high EV adoption and coordinated regulations, then expand to central EU markets like Germany and France as they develop further.

Statzon: Can you tell us about the competitive landscape?

Luis: The competition is growing, indicating a significant market. Unlike many, we target private EVs, requiring sophisticated optimization and predictive models. Our focus on individual users allows us to provide unique grid flexibility, setting us apart from those targeting fleets.

Statzon: How do you see Tether evolving with the industry trends?

Luis: We aim to expand beyond just managing EV charging demand to enabling vehicle-to-grid (V2G) capabilities. This will allow EVs not only to draw power but also to supply it back to the grid, further stabilizing the energy system and enhancing our solution’s value.