Synop and BorgWarner Partnership Offers Fleet Managers Increased Opportunities for V2G Revenue Streams

NEW YORK, New York (March 29, 2023) – Synop, the operations platform built to optimize charging and energy management for commercial electric fleets, today announced a partnership with BorgWarner (NYSE: BWA), to accelerate the next generation of revenue-generating opportunities for EV fleets using vehicle-to-grid (V2G) capabilities.

The partnership accelerates bidirectional V2G technology and provides monetization opportunities for fleet operators, lowering the overall cost of fleet ownership. Together, the two companies will supply fully-integrated hardware and software solutions, establish V2G testing and compatibility best practices, and take V2G technology beyond existing protocols to help optimize fleet operations while supporting utilities and the grid.

“BorgWarner’s impressive global reach and status as one of the largest automotive suppliers in the world combined with Synop’s technology will help accelerate V2G technology from where it is today,” said Gagan Dhillon, CEO of Synop. ”Together, we will be able to ensure interoperability to ultimately deliver next-level V2G technology to fleet operators worldwide.”

Beyond V2G, the partnership with BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market, will help resolve traditional challenges for EV fleets, such as system uptime, resilience to price volatility, charging mixed fleets, and will manage the total cost of fleet ownership.

From utility programs the companies have jointly participated in, commercial fleets were able to make back a maximum of $12,000 per commercial vehicle over the summer by selling energy back to the grid. By aggregating power from all partners, curtailing demand, and stabilizing excess power flow to the grid, utilities were able to better prepare for severe weather events such as heat waves and cold snaps that cause significant strain on the grid.

“Our collaboration with Synop underscores our shared commitment to lead the transition to eMobility,” said Isabelle McKenzie, President and General Manager, BorgWarner Morse Systems. “The partnership will promote V2G capabilities for EV fleets, helping to reduce their carbon footprint and add grid stability while providing the ability to generate revenue by selling energy back to the grid during peak demand hours.”

By combining expertise in energy management solutions and hardware/software interoperability, Synop and BorgWarner are working towards more efficient use of energy resources and reducing emissions from transportation sources. Fleet operators interested in engaging this technology can learn more at synop.ai.

About Synop

Synop provides an end-to-end EV software platform that is purpose-built to scale EV adoption by managing charging operations for commercial EV fleets with functionality that spans vehicle management, charging management, V2G energy management, and payment management. Through vendor-agnostic vehicle telematics and EV charging station integrations, Synop delivers AI-driven forecasting tools that optimize charging schedules to ensure commercial EV fleets maximize uptime and minimize cost. To learn more visit https://synop.ai.

About BorgWarner:

For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. Today, we’re accelerating the world’s transition to eMobility — to help build a cleaner, healthier, safer future for all.

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