Volvo Group Venture Capital invests in wireless electric charging

Volvo Group Venture Capital invests in wireless electric charging

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Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, has invested in Momentum Dynamics Inc., a a Philadelphia-based company developing and commercializing high-power inductive charging for the automotive and transportation industries, especially suitable for commercial electric, autonomous and connected vehicles.

“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.”

Wireless electric charging allows any type of vehicle to automatically and without supervision connect to the electrical power grid without the use of wires or cables. Without the need for a driver to plug in their vehicle to a charging station, automatic and bi-directional “electric fueling” may occur frequently and opportunistically—resulting in efficient use of battery capacity, longer driving ranges and improved uptime, Volvo Group Venture Capital AB explained.

Momentum Dynamics is conducting pilots in Europe and North America with both fleets and vehicle manufacturers of cars, buses, trucks and trains.

RELATED: Click here to read the details of Volvo Trucks North America’s VNR Electric truck announcement.

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