PowerD, or the idea that became a joint venture

Back in 2016 we realised that electric cars could be used for something else than driving from A to B. We were driving electric ourselves and there was some buzz already around the potential of a car battery and new business models that were linked to new energy storage systems.

Some companies were slowly starting to explore innovative ways of using electric vehicles beyond mobility. We saw a move from energy suppliers into mobility and from mobility players into the energy sector. And we wanted to develop a concept based on renewable energy. So we started calling different companies, from lease companies to energy suppliers and aggregators, to understand and test new ideas with them. We had to know what was needed and what could work.

“When you are intrigued about technology, you quickly discover new concepts. It’s very inspiring as it really opens up the door to new things.“

Pieter Willems, Managing Partner Faraday Keys and Co-Founder PowerD

At first, we had to face skepticism. Some people told us that EV’s would never get market share. For a lot of people back then, EV’s were just a hype or a fashion. Many still did not believe in the flexibility that electric vehicles can bring to the energy market and their financial value. Besides, it was very unclear who would play a leading role in all this.

LeasePlan immediately appeared to us as the perfect partner. Their mission to become CO2 neutral by 2030 was something we could directly relate to. And they were open and willing to listen to us. Being the largest lease company in Europe, with the largest and most diverse fleet, it felt natural to us to peer up with the party that could most easily accelerate the development of our smart charging solution.

“As an outsider, it is not easy to prove that your idea works and it is challenging to get in touch with the people who can actually help you within a big company. Luckily, we quickly found enthusiastic and supportive ambassadors within LeasePlan who helped us throughout the entire process.“

Oscar Westerhof, Managing Partner Faraday Keys and Co-Founder PowerD

An innovative venture like this was, of course, not without challenges. The complexity of the interplay among the technology behind the electric vehicles, the drivers, the charging points, the commercial interest of a company like LeasePlan, and the variety of stakeholders made it a challenging process. We wanted our solution to work, to be reliable, sustainable and ultimately profitable, while finding financial resources for all players involved in its development.

This kind of innovative solutions require energy-specific knowledge which not all stakeholders may have. You have to keep them informed, even though they may not always understand you. Educating stakeholders was a big part of our own learning process. It was paramount for the success of our solution that LeasePlan would understand the value that energy can add to a lease company. And we could still learn a thing or two about leasing.

After testing the proposition, the operation and the revenue model, we were further convinced of the idea of building a platform to give not only LeasePlan, but also other players within and outside the mobility sector that want to become active in the energy market, access to our services. This idea gave rise to the name PowerD, to enable other companies to use as much sustainable energy as possible when developing and offering products.

“The world is asking for more innovative solutions and we will continue developing new products. From smart charging and decharging related technologies to solar panels, the ideas are already there. And we are excited to push forward the energy transition.“

Lucien Joppe, Managing Partner Faraday Keys & Co-Founder PowerD

With PowerD we aim to put the control of renewable energy in the hands of the users rather than big companies, by getting renewable energy everywhere. We have built a platform that enables employers and drivers to create a system that works for them. We have created a technology that mobility players and different actors in the energy sector can use. But also, a solution that will encourage parties that are not active in the energy sector to become active. This is our contribution for a 100% renewable economy.

We have plenty of innovative ideas and we are constantly developing new concepts. From smart charging to hydrogen, we are committed to make our economy fossil fuel free. Do you have an idea and you think we could collaborate? Feel free to contact us:

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We have founded PowerD in collaboration with LeasePlan, united in a common goal: accelerating the transition to renewable energy. Get to know PowerD.