A new clean-energy technology company, named EV8 technologies, has been launched to encourage uptake of electric vehicles (EVs) by using them as a key part of the UK’s energy infrastructure.

The new company hopes to help monetise EVs for owners, who could earn up to £1,500 per year by using their vehicles as battery storage, and accordingly make electric vehicles a fundamental part of the UK’s energy infrastructure.

EV8 technologies says it is working with major automotive manufacturers, car leasing companies, airports, councils and industry bodies to unlock the business models of the future.

EV Smart Charging and Vehicle-to-Grid could help reduce grid re-enforcement costs by 66% – which amounts to £1.5bn savings, EV8 technologies has calculated – based on an estimated 6.5m EVs on the roads of the UK by 2030 and a potential 6.1m cars parked and plugged in to the grid at any time (cars are parked 95% of the time), as well as WPD estimates the cost to reinforce the UK’s electricity supply network to meet the needs of EVs is £2.2bn.

Tom Harper, CEO of EV8 technologies, commented: “The battery storage of electric vehicles is the silver bullet to accelerating the transition to clean energy.

“Car batteries are a vital asset – it is irresponsible to waste such a crucial resource as we transition to a cleaner world. In addition, it would help consumers and businesses generate revenues usually reserved for utilities.

“EV8 technologies’ cutting edge digital platforms gives consumers and businesses the opportunity to use their car as a battery, adapt when they charge in a more cost-effective manner and even sell power back to the grid, built around their schedule.

“For example, a car could earn up to £1,500 per year for their owners while parked at the airport during the family holiday, at the supermarket while they do their shopping or even at a depot when deliveries are finished for the day.”

Commenting on the collaborative approach needed for electric vehicle’s success if they are to be used for infrastructure, Jørgen Pluym, project leader, electrification & home energy management, Honda Motor Europe Ltd said: “Based on the latest vehicle-to-grid technology electric vehicles are no longer a threat but rather an opportunity to secure a stable energy supply. The electrification of transport impacts several sectors such as automotive, oil and energy. New business opportunities will be unlocked through cross-sector collaboration.”

Richard Forrest, chairman of EV8 technologies and global energy sector lead partner at A.T. Kearney, said: “The company that enables the market to harness the power of electric vehicles, while providing simplicity and convenience to the consumer will win this multi-billion-pound race.”

EV8 technologies is a new joint venture by A.T. Kearney, Cenex and Brixworth Technologies, with investors including the UK Space Agency that has pumped £2.5m into the company.