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LONDON--(BUSINESS WIRE)--Wallbox, the leading energy management company that manufactures smart EV charging solutions, will partner with Octopus Electric Vehicles to introduce its latest game-changing technology into homes across the UK. Quasar, the worlds lightest and smallest bi-directional charger for the home, was first announced in June of last year. Wallbox has now started to deliver the first pre-ordered units, and the UK is the first market to have the product available. In addition to providing DC charging capabilities for EVs, Quasar allows owners to pull energy from their cars batteries and export it into the grid, a capability referred to as vehicle-to-grid or V2G, as well as to power their own homes, known as vehicle-to-home or V2H, effectively converting their EVs into a powerful energy storage unit that can replace or add capacity to an energy system. The partnership with Octopus Electric Vehicles will be focused on the V2G technology. Enric Asunsin, CEO of Wallbox, explains the importance of this technology in the future of energy management: There are three trends accelerating that will cause a paradigm shift in how we produce, store and use energy: rising demand for energy worldwide; electrification of the mobility sector; and the increase in production of renewable energy as a positive response to climate change. The new possibilities that emerge with this scenario will require technology to harness their potential. At Wallbox we are creating the first generation of products that will give consumers the ability to use their EVs as a source of energy for the grid or the home." Wallbox creates smart charging systems that combine state-of-the-art technology with exceptional design, creating an intelligent ecosystem between car, charger and home. With Quasar, the company is bringing the grid into this ecosystem, giving consumers more control over how and when they use their energy. As explained by Eduard Castaeda, co-founder and Chief Product Officer, An EV stores enough energy to power a home for multiple days, and most drivers only use a fraction of this capacity on their daily commute. By enabling the transfer of energy to and from the battery to the grid and the home, consumers are empowered to use and share their energy in ways we didnt even imagine until recently. Octopus Electric Vehicles offer Powerloop, the complete V2G package for a consumer: a lease on a brand new Nissan LEAF, a Quasar charger, a smart meter and a green energy tariff compatible with the charger. Using a dedicated app, the customer can set and forget their charging schedule, and earn up to 30 cashback every month, just for allowing the car battery to be used to help the energy system. Powerloop is Octopus Electric Vehicles market-leading large scale demonstration project for residential vehicle-to-grid. Octopus Electric Vehicles secured 3 million from Innovate UK, funded by the Department for Business, Energy and Industrial Strategy (BEIS) and the Office for Low Emission Vehicles (OLEV), to roll out V2G technology to over 130 homes in a consortium alongside their sister company - the green energy supplier Octopus Energy - and others including UK Power Networks (UKPN). The Wallbox Quasar enables us to bring V2G charging technology to our customers on the Powerloop project. We envisage a connected world of energy where your car is capable of supporting and strengthening the grid at times when renewable energy is abundant or when demand is high, says Claire Miller, Director of Technology & Innovation at Octopus Electric Vehicles. Quasar, the worlds lightest and smallest bidirectional charger for the home Quasar is the worlds lightest and smallest charger of its category. Combining innovation and design, this charger is a huge leap forward in the smart usage of sustainable energy. Not only will it increase the stability of the grid, but it will also empower consumers to sell the energy they have generated and stored, turning them into prosumers, active agents in the energy ecosystem. Quasar buyers in the UK are eligible for the OLEV (Office for Low Emission Vehicles) grant, which encourages the adoption of low-emission vehicles and provides a 75% of discount in the cost of purchase and the installation of a domestic charging point, up to 500. Quasars disruptive technology has been internationally recognized, winning four major awards at the Consumer Electronics Show (CES), the largest consumer technology event in the world in early 2020. Quasar won the Best of CES by Engadget award in the Transportation Technology category, in addition to being recognized as one of the most innovative products of the event with awards by the leading American publications Electrek, Newsweek, Robb Report. Recently, Quasar has won a Germany Design Award in the category Excellent Product Design. Quasar will soon reach beyond the UK, with Germany and Australia as its next target markets, and it will also be introduced into the US, where Wallbox already operates. ABOUT WALLBOX: Wallbox is a leading energy management company that manufactures smart charging solutions for electric vehicles. Combining state-of-the-art technology with exceptional design, Wallbox creates a smart ecosystem that improves the way we manage, use and store energy. Created in 2015 and with its headquarters in Barcelona, Wallbox mission is to facilitate the adoption of electric vehicles today to make a more sustainable use of energy tomorrow. Envisioning a world free of fossil fuels, Wallbox technology enables people to create, use and share renewable energy in ways they never imagined. It currently sells to more than 40 countries and has 250 staff spread across offices in Europe, Asia, and America, as well as 2 factories of its own. Wallbox offers four types of chargers, including Quasar, the worlds smallest and lightest bidirectional charger for home use with advanced two-way charging technology. It was recognized with the highest distinction by CES, the world's leading technology trade show for the industry. During the first half of 2020 Wallbox completed a Series A round of investment of 23 million euros. ABOUT OCTOPUS ELECTRIC VEHICLES: Octopus Electric Vehicles is a specialist EV leasing business, focused on making it easy for drivers to switch to clean, green driving. Launched in 2018, its the UKs only company to offer a complete solution for EV drivers. The expert team at Octopus can help you find the right EV for you - from Tesla to Nissan, Jaguar to Renault, VW to Polestar, and many more. And once selected, the team can help you with access to great finance, charging solutions and green energy tariffs designed especially for EV drivers - plus a free support helpline to help you on every stage of your electric journey. Part of the Octopus Energy Group, Octopus EV are also cutting new ground where the energy and auto sectors collide: retailing the smartest charging solutions and even running one of the worlds largest Vehicle-to-Grid trials, Powerloop, supported by Innovate UK. More information can be found at www.octopusev.com/powerloop

Answer: Wallbox Starts Delivery of Quasar, The Worlds Lightest and Smallest Bidirectional Charger for Home, Through a Partnership With Octopus Electric Vehicles in the UK Quasars unique technology will deliver vehicle-to-grid and vehicle-to-home functionality that will transform the energy ecosystem by enabling consumers to feed energy stored in their EVs back to the grid or to their homes Octopus Electric Vehicles started installing the first units of Quasar as part of its energy management solution across the UK in August