ABB has acquired Netherlands-based Epyon Power, a developer of direct current (DC) fast-charging electric vehicle (EV) stations and network charger software.
Epyon’s DC fast-charging stations have been in commercial use since May 2010, and reduce charging time to 15 minutes compared with six to eight hours using a standard alternating current (AC) charger outlet.
Founded in 2005, the company is headquartered in Rijswijk, the Netherlands, has a research and development centre in Eindhoven and sales resources across Europe. Epyon’s 50 staff worldwide will join ABB when the acquisition is completed.
Both parties agreed not to disclose financial details of the transaction.
ABB believes that the growing number of EVs is driving a global market opportunity for charging solutions, including supporting technologies to equip the electrical grid with more sophisticated monitoring systems and software.
Last year, the company made an investment in San Francisco-based ECOtality, a clean electric transportation and storage technologies company, which enabled it to enter North America’s EV charging market.
According to Pike Research, EV charging station unit sales are expected to multiply rapidly over the next five years, and reach 1.6 million units globally by 2015.