Startup Elby is leaving stealth mode. Today they announced the launch of a new type of charging solution for the city’s electric cars, which transforms buildings into cooperative charging stations. The business model is based on the cooperative mindset, where the building owner can earn up to 60% of the profit. The price to charge is expected to be the lowest in the Danish urban market.
Elby was started to accelerate the green transition and was founded by experienced entrepreneurs, Martin Ferro, Michael Reibel Boesen and Lars Køhler, who have an international entrepreneurial track record behind them.
Towards 2030, most cars are expected to run on electricity. For example, Copenhagen Municipality will work to make the capital free of traffic with fossil vehicles such as petrol and diesel cars in 2030. This means that the cities must be able to charge up to 20 times as many electric cars as today. It requires new thinking and different charging solutions that can be scaled up much faster and cheaper than the kerbside chargers and charging stations that we know today.
That’s why Elby.co is opening pre-orders today for their new charging solution that connects the power supply of multi-storey buildings with the cars on the street. The charger (~11 kW) is located on private property, well protected in the wall of the apartment building, and the car owner uses his own cable to get the power across the pavement. The cable is held securely in place with a small rubber sleeve, which is much smaller than e.g. rainwater rails. Elby’s philosophy is to set up chargers where the cars are already parked 95% of the time, so that they can charge for a longer period of time, especially while electricity is cheapest and greenest. In this way, the current power grid better manages to charge the cars, whereas fast charging at peak times can challenge the grid.
The business model is based on a cooperative mindset, where the building owners get a share of the profits, up to 60%, depending on how much is charged on a weekly basis. The price for charging is expected to be DKK 2 + the cost of electricity, which will be among the lowest in the Danish urban market. There are no subscriptions or hidden fees. In the scenarios where the building is jointly owned, e.g. in a cooperative or owner’s association, the residents thus profit from the charger.
Today, you can pre-order a charger for your building at elby.co. For business and rental properties, the price is DKK 20,000 (introductory price). For co-operative, owner-occupied and public housing, Elby will seek to cover the outlay for the charger. Expected start-up in Greater Copenhagen is the first half of 2024. The charging solution is applied for patent.
Elby is charged by 100% wind power via Vindstød A/S.
