AeroVironment Inc. has been selected by a Houston electric utility to develop a privately funded, citywide electric vehicle charging system.
The Monrovia company, which develops unmanned aerial vehicles as well as electric vehicle charging technology, said Wednesday that the program will provide chargers, services and payment plans aimed at making electric vehicles practical for drivers.
AeroVironment will supply, install, and support home and public overnight and fast-charge stations as part of a $10 million plan by Princeton, N.J.-based NRG. At least 50 high-power fast charging stations would be installed in the Houston area by the middle of next year. NRG is the parent of Reliant Energy, which serves 1.6 million residential and business customers in Texas.
“AeroVironment is playing a central role in creating this network and with it, bringing the benefits of electric vehicles to Houston,” said NRG Energy Chief Executive David Crane in a statement.
Financial terms of the deal were not disclosed.
AeroVironment also has been chosen by Nissan North America to supply home charging stations for buyers of the carmaker’s LEAF electric car, which is set to hit the market shortly.
Shares closed up $1.06, or 4.7 percent, to $23.57 on the Nasdaq.
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