Levo, Ecolution Power partners to finance e-buses and kinetic energy-powered charging stations
Ecolution Power Company (Ecolution) has announced that it has signed a Letter of Intent (LOI) to collaborate with Levo Mobility LLC (Levo) to help create the first smart city to reach zero carbon emissions. Ecolution plans to deploy its patented proof-of-concept Active Response System (MARS) Module in Greenville, SC, followed by a roll-out of its technology in Minnesota to 2022.
Ecolution's MARS technology collects kinetic energy from moving train cars and truck trailers, generating clean, affordable electricity that is downloaded onto a microgrid at the train station, buildings across town, or placed directly into the central power grid. This mobilized kinetic energy would also be provided to charge electric school buses. There are approximately 5,000 school buses and 1,000 city and mass transit buses in the greater Minneapolis-St. Paul could transition to electrical zero-emission in the future.
Through a joint venture dedicated to the project that can be financed by Levo, the Ecolution plans to provide St. Paul and the area of Twin Cities in Minnesota with electric vehicles and charging stations for electric vehicles powered by its train-to-technology network.
"Using the power of clean energy is critical to building a sustainable future for our city," said Mayor Melvin Carter.
"As we continue this vital work, we look forward to the opportunity to welcome Ecolution into our community."
"Trains consume a lot of energy. Our technology recycles that energy and, in the process, reduces electricity costs and carbon emissions," said Johanne Medina Then, CEO and co-founder of Ecolution.
"This transformative process is now becoming a reality with the support of our engineering partners, Day & Zimmermann and KTM Engineering in South Carolina."
Ecolution recently executed a non-binding letter of intent with Levo, in which Ecolution would seek up to $30 million of capital from Levo to fund the purchase of electric buses in phase one of the Minnesota project. Ecolution is currently in the process of establishing a headquarters in St. Paul.
"Levo is committed to reducing CO2 emissions by leveraging technology and providing an affordable and simple approach to electrification. We manage the entire end-to-end process for our customers so they can quickly and confidently electrify," he said.
Maggie Clancy, commercial director of Levo. "Partnering with Ecolution helps us fulfill our mission in a new and innovative way, and we look forward to working closely with Ecolution Power Company and the City of St. Paul to achieve their goals."
"All paths to achieving net-zero carbon emissions must go through the transportation industry," said Craig Bouchard, co-founder, and CEO of Ecolution.
"This partnership lays out a blueprint for how a large metropolitan area can achieve the net-zero carbon goal."
