• Innovation in energy and recharging space

    Innovative ePlug Smart EV spatial charging system simultaneously solves charging and parking problems

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    Website: sevasa.co

    Location: Dongan-gu, Anyang-si, Gyeonggi-do, South Korea

    Specialized sector: Smart City (intelligent city)

    Company overview

    SEVASA Inc. was established in Anyang-si, Gyeonggi-do, South Korea, and specializes in Smart City technology, particularly focusing on electric vehicle (EV) charging solutions. Their flagship product is a Modular Variable Power Charging System for Electric Vehicles, designed to offer scalable and efficient charging options by utilizing existing building energy systems.

    Problem overview

    As electric vehicles become more popular, the demand for efficient and scalable EV charging infrastructure grows. Traditional charging systems often require significant upgrades to a building's power system, which can be costly and time-consuming. Furthermore, the limited availability of dedicated parking spaces for EVs can create conflicts with internal combustion engine vehicles, especially in urban settings.

  • Solution Overview

    SEVASA's Modular Variable Power Charging System addresses these challenges by utilizing existing Building Energy Control Systems (BECS), avoiding the need for extensive power infrastructure upgrades. The system is designed with a 1 (controller): N (charger) architecture, making it scalable and flexible to meet the needs of different users. This approach reduces both cost and space requirements, allowing shared use of parking spaces by EVs and conventional vehicles. SEVASA holds patented technology in Korea for its innovative variable power control and energy management system.

  • Business Model

    SEVASA operates in a B2B, B2C, and B2G model, targeting businesses, consumers, and governments alike. Their initial market focus is France, where they aim to develop localized Proof of Concept (PoC) projects to meet specific market needs. Following successful entry into the French market, SEVASA plans to expand further into Europe, leveraging strategic partnerships and public funds to fuel its growth. The company received 200 million KRW in public funds and 2,857 million KRW in equity to support its expansion.

  • Competitive Landscape

    SEVASA’s key competitive advantage lies in its cost-efficient and scalable charging system. By utilizing existing power facilities and avoiding the need for significant infrastructure upgrades, the company can offer a more affordable and practical solution. Additionally, their system helps alleviate parking space conflicts, making it easier for cities to accommodate both EVs and traditional vehicles.

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