Tether

Tether provides an advanced prediction and optimization engine for electric vehicle (EV) charging, designed to transform parked EVs into a distributed energy storage network.

The company was founded by Luis Medina Rivas and Martim Perestrelo, with some sources indicating a 2020 founding in Stockholm and others a 2022 or 2023 founding in Barcelona. Luis Medina Rivas, the CEO, is an expert in Power Systems and Renewable Energy with a background at companies like Northvolt and General Electric Solar. The founding team combines expertise in renewable energy, mobility, and optimization software.

Tether's core technology utilizes artificial intelligence to learn the charging patterns and behavior of millions of individual EV drivers. This allows the platform to coordinate and optimize charging, turning the collective battery capacity of these vehicles into a virtual power plant that can stabilize the power grid. This addresses the challenge of intermittency from renewable energy sources like solar and wind. By leveraging the flexibility of EVs, which are parked approximately 95% of the time, the system can provide ancillary services to the power grid.

The business model is primarily B2B, partnering directly with EV manufacturers (OEMs) and charge point operators through a Software-as-a-Service (SaaS) and revenue-sharing model. Tether bids the aggregated vehicle flexibility on energy balancing markets, creating additional revenue streams for its partners while supporting grid stability with clean power. The company has conducted pilot projects with major industry players like Audi and Zeekr. Headquartered in Barcelona, Spain, Tether has secured pre-seed funding from investors including Draper B1, K Fund, and Techstars to expand its operations, particularly in the Nordic markets, Germany, and Belgium.

Keywords: EV charging, smart grid, AI optimization, vehicle-to-grid, V2G, distributed energy storage, energy flexibility, virtual power plant, charging patterns, renewable energy integration, energy management, cleantech, grid balancing, SaaS, automotive technology, power systems, battery optimization, electricity grid, ancillary services, energy transition