Volvo Group Venture Capital, a subsidiary of Volvo Group, has announced an investment in Momentum Dynamics, a compay that is developing high power wireless charging technology for electric vehicles.
Philadelphia-based Momentum is developing and commercializing high power inductive charging for the automotive and transportation industries.
“Momentum Dynamics’ technology and competence within inductive bi-directional transmission of electrical energy and information safely through air, water and ice will fit the harsh conditions under which our customers operate, “said Per Adamsson, vice president at Volvo Group Venture Capital. “High capacity charging up to 300 kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition.”
Inductive charging technology is found in many of today’s smartphones, allowing a device to sit on a charger and receive charge, without a need to be plugged in. Even though there is a physical connection to the charger, it is considered wireless because it transfers energy to a battery through an electromagnetic field.
When applied to an electric vehicle, a driver would not have to plug in their vehicle to a charging station to recharge a battery, which could allow for more frequent and opportunistic charging. With proper infrastructure, inductive charging could result in more efficient use of battery capacity, longer driving ranges and more uptime.
Momentum Dynamics is conducting pilots in Europe and North America with both fleets and vehicle manufacturers of cars, buses, trucks and trains.
“For Volvo Group we are strengthening our competence and knowledge of charging and electricity distribution within the ecosystem around electric transportation and energy supply,” said Stefan Söderling, investment director at Volvo Group Venture Capital. “We see partnership, cooperation and investments as the way forward in a fast-changing environment.”
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