Montreal EV charging startup dcbel closes US$40M round as it aims to tap U.S. greentech rush

A dcbel electric vehicle home charger. Handout

MONTREAL — A Montreal company behind a charger capable of using an electric vehicle to power the home has secured US$40 million in funding from a host of major U.S. and Canadian investors.

Founded in 2015, dcbel began taking orders for its r16 home charger late last year. The unit provides “Level 3” charging for EVs, meaning it converts AC current from electrical grids and renewable sources like home solar panels to DC current used by EVs. The r16 also works in reverse, effectively turning the EV into a giant battery that can power a home in the event of a power outage.

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