Current Ways Inc.

Current Ways Inc. is a technology company specializing in advanced power electronics for energy management in electric vehicles and stationary applications, focusing on innovative solutions for efficient energy use. Founded in 2019, Current Ways Inc. is located in Santee, US, and focuses on providing advanced power electronics.

The company, led by CEO James Gevarges, raised USD 3. 000 mn in a Seed round on July 2, 2019, with First Analysis as the lead investor. Since its inception, it has closed one deal, demonstrating its commitment to innovative energy solutions. Current Ways specializes in advanced power electronics, offering a range of innovative products designed for efficient energy management in electric vehicles and stationary applications.

Their flagship product, the Current Ways Universal Bidirectional Isolated Converter (CWUBIC), enables bi-directional onboard charging, allowing electric vehicles to not only charge but also supply power back to the grid. This technology is particularly beneficial for applications like electric tractors and school buses, which have been utilized in vehicle-to-grid (V2G) and vehicle-to-load (V2L) demonstrations. The company's solutions cater to diverse markets, including North America and Europe, with clients such as Monarch Tractor, Lion Electric, and ConEdison. Current Ways aims to address energy sustainability challenges by facilitating better integration of electric vehicles into the grid, thus enhancing energy efficiency and reliability.

Current Ways generates revenue through direct sales of their power electronics products, focusing on business-to-business transactions. The company partners with original equipment manufacturers and utility companies, offering customized solutions that meet specific customer needs. Clients may purchase products such as the CWUBIC and onboard chargers, structured under various pricing models reflecting the complexity and customization of the solutions provided. Revenue streams may also include ongoing support and maintenance services for their systems, integral to ensuring optimal performance.

Through these transactions, Current Ways establishes long-term relationships with its clients, providing not only the hardware but also the expertise necessary for implementing efficient energy solutions. Current Ways Inc. plans to leverage the recent Seed funding of USD 3. 000 mn raised in July 2019 to expand its product offerings and market reach.

The company is actively developing new products aimed at enhancing energy management capabilities, with expected launches within the next year. They are also looking to penetrate additional markets in North America and Europe, targeting specific sectors such as utility companies and electric vehicle manufacturers by 2025. The funding will support research and development efforts to innovate and improve their existing product line.