Congratulations to LACI portfolio company NeoCharge for being recognized by the U.S. Department of Energy (DOE) American-Made Equitable and Affordable Solutions to Electrification (EAS-E) Prize Challenge!
Exciting News! NeoCharge, in collaboration with Redwood Energy, has been honored as Runner-Up in the U.S. Department of Energy (DOE) American-Made Equitable and Affordable Solutions to Electrification (EAS-E) Prize Challenge! This $325,000 cash prize recognizes our innovative approach to a critical challenge: making home electrification accessible and affordable for all. Here’s the reality: To meet our climate goals, we need to electrify nearly 50 million homes across the U.S. If each of these homes requires a multi-thousand dollar panel upgrade to switch from gas to electric, the costs become astronomical - potentially as high as $100 billion in the U.S. But here's the game-changer: most existing electric panels in the U.S. actually have more than enough capacity. Meaning they dont NEED to be upgraded. The key is being intelligent about how we add circuits and devices to homes. At NeoCharge, we’ve made it our mission to streamline this process and make home electrification possible without costly panel upgrades. Our solution? A combination of 120V appliances, the NeoCharge 240 Smart Splitter, and load management to ensure the home stays within safe capacity. It all started with our Smart Splitter, helping homeowners/renters add EV charging with ease by sharing existing 240V circuits. Now, we’re expanding to enable whole-home electrification in even more homes – including on standard 100-amp or even smaller 80 or 70-amp panels. This success is backed by rigorous testing from this American-Made challenge that we conducted at the National Renewable Energy Laboratory. This prize isn't just an award – it's validation of our mission and a catalyst for future innovation to make electrification as easy and affordable as possible (EAS-E prize). We're excited to leverage this opportunity to develop even more products that make home electrification and EV charging as accessible and affordable as possible. (while helping reduce peak energy load and emissions from home energy) Together with partners like Redwood Energy, the National Renewable Energy Laboratory, and supporters like the DOE, we're not just powering homes – we're empowering a sustainable future. Thank you to the DOE, American-Made Challenge, team NeoCharge, the entire team at Redwood Energy, the National Renewable Energy Lab, and everyone who's been part of this journey. The path to clean energy and fully electrified homes is clear, and it runs right through your home's electrical panel. Let's make it happen, together – affordably and intelligently. (Check out our video in the comments below!) #Electrification #CleanEnergy #EV #EASEprize