RET Ventures Partners with Plugzio to Accelerate Adoption of EV Charging

This investment in Plugzio is the culmination of RET’s comprehensive evaluation of the EV charging space. In December 2021, RET launched a working group including over a dozen multifamily experts to explore EV charging technologies for multifamily properties.

The group determined a focus on Level 1 (L1) charging with Level 2 (L2) support was the most suitable pathway to wide EV adoption for the multifamily industry, based on convenience, reliability, and affordability for both landlords and residents.

“Compared to L2 products that typically burden users with limited charger availability, peak charging rates, and idle fees for prolonged use, L1 and 1B (240V/20A) charging is the most suitable solution for owners,” said LCOR Chief Technology Officer Brian Bozeman, who participated in the working group.

With the goal of finding an L1 provider, RET’s working group launched an RFP to identify the best solution. After assessing more than 20 platforms, the working group decided on Plugzio, an ideal end-to-end solution that provides both L1 and L2 hardware options with a hardware-agnostic, cloud-based charger management system that integrates with established L2 providers.

“With Plugzio, residents can take advantage of off-peak rates with a guaranteed overnight charge in their dedicated spot, all while they sleep,” said RET Vice President Jameson Hartman, who led the working group. “If they need more power, Plugzio can provide L2 options or integrate with L2 chargers already at multifamily properties.”